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Damon convinced his aunt to lend him $11,200 to purchase a digital TV. He has agreed to charge only 6 percent simple interest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year?.

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Damon convinced his aunt to lend him $11,200 to purchase a digital TV. He has agreed to charge only 6 percent simple interest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year?

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