Simple Interest Problems Set 1 Question 9
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Question 9
The Valley National Bank loaned Finley an amount of $4000 so that he can get his hands on a table. The Valley National Bank loaned him the $4000 at a per annum interest rate of 9% and a period of 30 months.
What is the total amount of interest that Finley will have to pay back over the period of 30 months to the Valley National Bank? How much money in total will Finley end up paying back?