Home / Questions / Interest Rate: 4% each year Starting Balance: $120,000 Time Passed: 15 years Round all
Interest Rate: 4% each year
Starting Balance: $120,000
Time Passed: 15 years
Round all answers to the nearest dollar (no cents, no dollar sign, use commas where appropriate).
1- How much interest has accrued if we are using simple interest?
2- What is the new total balance (loan amount plus interest)?
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