Solve the Problem. -Josh Makes a $2500, 4% Simple Interest Personal Loan to Personal

question 30

Multiple Choice

Solve the problem.
-Josh makes a $2500, 4% simple interest personal loan to his friend Sean for a period of 7 years. When Sean settles his loan at the end of the 7 years, how much money, in total, must he pay Josh? The formula for simple
Interest is I = prt.

• A)$700
• B)$72,500
• C)$2528
• D)$3200

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