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The interest rate is given in the question. It is 3.5%.

The amount of interest paid on the loan depends on how much of the loan (if any) is paid back during the period of the loan. If there are no interim payments, the total interest at the end of 5 years is 2681.85 approx.

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โˆ™ 2015-01-30 20:26:41
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Q: How much is the interest rate on 14289.00 at 3.5 percent for five years how much will you pay in interest on a loan?
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