Jack loaned Bob $1,500 at an annual interest rate of 7%. After one - ProProfs Discuss
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Jack loaned Bob $1,500 at an annual interest rate of 7%. After one year, how much will Bob owe Jack?



A. $1,605
B. $1,507
C. $105
D. $1,500

This question is part of ASVAB Practice quiz
Asked by Jcarerra, Last updated: May 23, 2020

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2 Answers

John Adney

John Adney

Answered Oct 24, 2017

How did you get that answer i tried so hard answering it i couldnt

1
 1

hris

Hris

Replied on May 18, 2018

1500×.07=105 then at that to the annual, "or yearly" interest rate 105+1500=1605

Jcarerra

Jcarerra

Answered Aug 27, 2017

$1,605
1
 

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