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To help his sister, Lydia, pay for college, Jason offered her a loan at a simple annual interest rate of 2%. At the end of 4 years, Lydia paid off the loan, and Jason received $80 in interest. How much money did Jason loan his sister?

Respuesta :

(loan*2%*4)/100=80
loan = 80*100*8
=1000
double check :
interest per year :(1000/100) *2 =20
total interest for 4 years = 20*4=80
Just remember this formula:
Interest = (loan*rate*time(in years)) /100

Answer:

1000

Step-by-step explanation:

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