You borrow $500 at 4% "simple interest paid out only one time" for 6 months.
Calculate the interest you pay (I) and the end amount (A).
simple intrest(I) = Ptr/100
= (500 * 1/2 * 4)/100
= 2000/100
= 20
Amount(A) = p + I
= 500 + 20
= 520
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