# math115

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Ms. Jefferson has been given a loan of \$20,000 for 1 year. If the interest charged is \$800, what is the interest rate on the loan?4%
2.A saleswoman is working on a 6% commission basis. If she wants to make \$2,400 in one month, how much must she sell?\$40,000
3.If \$7,800 is deposited into an account paying 6% interest compounded annually (at the end of each year), how much money is in the account after 2 years?\$8,764.08

• math115 -

1. 4% per annum
2 & 3 correct.

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