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6) Sara has a loan for $1800 at a rate of 16% annually. How much interest will she pay in 4 years?
A) $144.00
B) $288.00
C) $1152.00
D) $2952.00
If Sara has a loan for $1800, with a rate of 16% ANNUALLY, it would be $288 per year. Over the 4 years, it would cost 1,152 interest for Sara to pay back to the bank. The answer is C.
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