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  3. if you borrowed $1,000 for a 2 year period, with a

If you borrowed $1,000 for a 2 year period, with a simple interest rate of...

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Accounting

If you borrowed $1,000 for a 2 year period, with a simple interest rate of 5% per annum, the total interest to be paid would be

Multiple Choice

  • None of the other alternatives are correct

  • $300

  • $100

  • $1,000

  • $500

Answer & Explanation Solved by verified expert
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