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1 You have decided to accept an offer from your parents of a loan to...

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1 You have decided to accept an offer from your parents of a loan to finance your new car The amount you have budgeted for is 15000 over 42 months Your parents decided to charge a reasonable SIMPLE INTEREST rate of 2 5 per year How many years is 42 months 4 2 4 3 5 2 You have decided to accept an offer from your parents of a loan to finance your new car The amount you have budgeted for is 15000 over 42 months Your parents decided to charge a reasonable SIMPLE INTEREST rate of 2 5 per year What is 2 5 as a decimal 0 025 0 25 I 131250 F 0 0025 3 You have decided to accept an offer from your parents of a loan to finance your new car The amount you have budgeted for is 15000 over 42 months Your parents decided to charge a reasonable SIMPLE INTEREST rate of 2 5 per year How much interest do you owe your parents at the end of the 42 months 1575

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