Zye takes out a loan for $6,000 to but a sno cone cart. The bank charges him 8% interest on the loan. After 5 years, how much interest will be added to the loan?
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Step-by-step explanation:
Interest= P×Interest ×Time/100
=>Interest= $(6000×8×5/100)
= $(240000/100)
= $2400
■ After 5 years, $2400 will be added to the loan.
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