You want to buy a large toilet paper company, but you need to take out a loan to cover the cost. If you borrow $12,000 at a 3.5% interest rate, how much interest will you owe in 5 years?

Question

08-01-2021
Mathematics

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You want to buy a large toilet paper company, but you need to take out a loan to cover the cost. If you borrow $12,000 at a 3.5% interest rate, how much interest will you owe in 5 years?

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