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OpenStudy (anonymous):
charlie and kathy want to borrow 20000 dollars to make some home improvements. their bank will lend them the money for 10 years at an intrest rate of 5 3/4%. how much will they pay in interest?
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OpenStudy (snowsurf):
You would use the interest rate formula I = Prt Where P is the amount of money, r is the interest rate and t is the time in years.
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