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Mathematics
Financial Math
Simple Interest
Lynne loaned $480 to a friend. The friend paid back the amount borrowed plus 10% interest. What was the total amount the friend paid to Lynne?
f $480.10 g $528.00 h $490.00 j $484.80
1 answer
The friend paid back the original amount borrowed plus 10% interest which is $480 + ($480 x 0.10) = $480 + $48 = $528. Therefore, the answer is g) $528.00.
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