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If You Borrow $1,400 for 6 Years at 7% Annual

Question 101

Multiple Choice

If you borrow $1,400 for 6 years at 7% annual simple interest, how much must you repay at the end of the 3 years? Round your answer to the nearest dollar. ​


A) $2,114
B) $7,280
C) $1,890
D) $2,086
E) $1,988

Correct Answer:

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