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24-10-2020
Mathematics

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Iveta takes out a mortgage of $100,000 to purchase a property. The interest rate is calculated as a simple interest rate of 5% per year. How much interest would Iveta have to pay after six years?

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ashlynbere ashlynbere

24-10-2020

$100 000 x 5% = $5000 x 6 = $30 000
She would pay $30 000 of interest in 6 years.

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