How much is the interest, You borrow $500 from a family

How much is the interest

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You borrow $500 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month.

How much will you owe after 6 months?

How much is the interest?

Reference no: EM13851798

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