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Patrick lent out a loan of $7,000 to his friend for an interest rate of 3.3% p.a. simple. Hisfriend repays him back the principal and interest after 9 months. Patrick then lent outthis total amount to another friend for an interest rate of 5.3% p.a. simple, which isrepaid after 5 months. What is the total amount of interest that Patrick earned?Round to the nearest cent |
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