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Jodie borrowed 700 from her credit union and agreed to repay them that amount plus 1.83% simple annual interest accumulated over 4 years. how much will she return to the credit union at the end of the 4 years?

Solution

Solution

Amount : 751.24

Solution steps

Translate the problem into an equation:

A = 700 (1 + 0.0183 \cdot 4)

700 (1 + 0.0183 \cdot 4) = 751.24

Amount : 751.24

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