• HOW MUCH WOULD HAVE TO BE REPAID IF YOU BORROWED $4,000 FOR 210 DAYS AT 8% SIMPLE INTEREST?
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To calculate the interest, we use the formula: Interest = Principal * Rate * Time In this case, the principal is $4,000, the rate is 8% (or 0.08 as a decimal), and the time is 210 days. Interest = $4,000 * 0.08 * 210 = $67,200 Show more…
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