Answer:
5
Step-by-step explanation:
The interest to be paid on the loan is $30 and the total amount owed the parents is $530.
The simple interest on the money borrowed is calculated using the formula below:
The simple interest on the money after 2 years is:
Simple interest = $500 × 3 × 2/100
Simple interest = $30
Amount of money owed the parents = $500 + $30 = $530.
Therefore, the interest to be paid on the loan is $30 and the total amount owed the parents is $530.
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A. 5,552 in. cubed
B. 5,426 in. cubed
C. 5,087 in. cubed
D. 4,668 in. cubed