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OpenStudy (anonymous):
Kate borrowed $400 from her friend. She will repay this amount plus 3 percent simple interest after one year. What is the total amount she will pay her friend?
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OpenStudy (anonymous):
I = PRT I = (400)(.03)(1) I = 12 Your interest is $12. Add this to your principle (400) and your total amount to pay back $ 412.
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