?????? 8 2 ???? (????) If $5000 were loaned for five years at a simple interest rate of 7% per year, the total amount repaid at the end of :five years would be $8500 $5000 $6750 $1750 ?????? ??????
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The interest earned per year can be calculated using the formula: Interest = Principal * Rate * Time. In this case, the principal is $5000, the rate is 7% (or 0.07 as a decimal), and the time is 5 years. So, the interest earned per year is: Interest = $5000 * 0.07 Show more…
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