Find the interest on a loan with Principal =
$1000, Rate = 6%, Time = 2 years
1 answer:
Answer:
changing the currency $ to #
$1000 = #415,640.00
i=prt (formular)
given:
I =?
p = $1000 or #415,640.00
r = 6%
t = 2 years
i= 415,640.00×6×2÷100
i= #49876.8
without changing currency
i= 1000×6×2÷100
i=120
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