SOLUTION: James borrows $300 at an interest rate of 8% and takes 5 years to pay it off. How much does he pay? Question 2 options: $420 $120 $240 $600

SOLUTION: James borrows $300 at an interest rate of 8% and takes 5 years to pay it off. How much does he pay? Question 2 options: $420 $120 $240 $600

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Question 1054681: James borrows $300 at an interest rate of 8% and takes 5 years to pay it off.
How much does he pay?
Question 2 options:

$420

$120

$240

$600
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
I = $300*.08*5 = $120
$300 + $120 = $420, is How much he pays
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