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Mark Borrowed $5,500 at 11.5 percent for 5 years (2.199) what is the amount of Marks total payment?
5 months ago
Q:
Mark Borrowed $5,500 at 11.5 percent for 5 years (2.199) what is the amount of Marks total payment?
Accepted Solution
A:
Let I am interest, r rate, t time and p principle,
l= prt
l= 5500(.115)(5 )= $3162.5 is the total amount of interest to pay.