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April 21, 2014

Homework Help: Loan

Posted by Renee on Monday, October 29, 2012 at 6:29pm.

Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple interest on the remaining balance of the loan in semi-annual equal PRINCIPAL payments for four years. How much total interest will Borrower Brown pay over the life of his loan?

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