You borrow 500 from a family member and agree to pay it
You borrow $500 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month.
How much will you owe after 6 months?
How much is the interest?
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you borrow 500 from a family member and agree to pay it back in 6 months because you are part of the family you are
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