Seudónimo Seudónimo
  • 04-08-2016
  • Mathematics
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Hello is it anyone up here that can help me with my question please

Hello is it anyone up here that can help me with my question please class=

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Eucherplayer Eucherplayer
  • 04-08-2016
Simple interest is basically the cost of borrowing money over a period of time.  So if you have borrowed $110.00 at 5% for two years, you will multiply the 5% by the two years (presuming that it is 5% annual percentage rate (APR).  So, You will multiply the 110 by 10% (or .1) to get $11 dollars of simple interest.
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