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asked 10 months ago
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Simple interest on 1800 for two months at an annual rate of 12 is
I = Prt
I = 1800*12*(2/12)
I = 1800*2
I = 3600
_____
A more usual interest rate is 12%.
I = 1800*12%*(2/12)
= 1800*2% = 1800*.02 = 36
I = Prt
I = 1800*12*(2/12)
I = 1800*2
I = 3600
_____
A more usual interest rate is 12%.
I = 1800*12%*(2/12)
= 1800*2% = 1800*.02 = 36
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