Kelsey takes out a loan for $60000 to start a business after high school. The bank charges
her 8% interest for the loan. After 5 years how much interest will be repaid to the bank?
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Answer:
$24000
Step-by-step explanation:
Simple Interest = P*R*T/100
S. I. = 60000*8*5/100
S. I= $ 24000
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