Simple Interest Problems Set 5 Question 10
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Question 10
Carmine has borrowed $3500 from the Sterling National Bank to help pay for a printer. The Sterling National Bank loaned him the $3500 at an interest rate of 2% per annum, and a period of 42 months.
How much interest will Carmine have to pay back to the Sterling National Bank over the 42 months? What's the total amount of money that the Sterling National Bank will end up getting back from Carmine?