SOLUTION: Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?

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Question 728715: Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?
Answer by solver91311(24713) About Me  (Show Source):
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Depends. Is the lender charging 4% simple interest for the term of the loan, or 4% per annum simple interest?

John

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