ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Phyllis went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 5% for 5 years. What is the total amount that Phyllis will pay for the chair?
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$2600
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$9100
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$8125
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$2650
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Explanation:
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