ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mark went to the mall and saw a pair of shoes that he would have to take a loan out for $6500 to purchase. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that Mark will pay for the shoes?
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$2600
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$910
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$9100
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$260
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Explanation:
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