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What is his final payment

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Q1) Sally took out a simple interest loan at 6% interest for 12 months. Her previous balance is $1,400. What is her final payment if the loan is paid off with the next payment?

Q2) James took out a simple interest loan at 4% interest for 12 months. His previous balance is $800. What is his final payment if the loan is paid off with the next payment?

Q3) Paul took out a simple interest loan at 7% interest for 12 months. His previous balance is $1,200. What is his final payment if the loan is paid off with the next payment?

Reference no: EM132856696

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