6. Emilio’s father borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much simple interest will he pay if he takes 2 years to repay the loan?
7. Emilio’s father borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much will he have to pay back in all?
8. Cory charged a $600 TV on his credit card with an interest rate of 21%. If he has no other charges on the card, how much money will he owe after one month?
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11. In 2002, a $5 bank note from 1886 was sold to a collector for $103,500. Suppose a person had deposited the $5 in a bank in 1886 with an interest rate of 4%. After 116 years, how much simple interest would have been earned on the account?
12. Marcus would like to have $2,340 altogether. If he invests his money at 5% interest, in how many yeas will he have $2,340? A bonus buck to the first person who gets it.
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