You are starting your own small business in Albuquerque.you borrow $10,000 from the bank at a 9% rate for 5 uears.
Find the interest you will pay on this loan
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Answer:
Interest = P×R×T
Step-by-step explanation:
P = 5 years
R = 10,000
T = 9%
Interest = P × R × T
= 5×10000×9
= 50000×9
= 450,000
Therefore, The Interest you will pay on this loan is $ 450,000
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