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OpenStudy (anonymous):
what are the monthly payments on a$ 50000 loan with 9% interest over 7 years?
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OpenStudy (mathlegend):
This is a simple interest problem... I=PRT
OpenStudy (mathlegend):
Principle = 50000 Interest = .09 Rate = 7
OpenStudy (anonymous):
so multiply those ?
OpenStudy (mathlegend):
Yes
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