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ser-zykov [4K]
3 years ago
11

what is the simple interest if the principal is $12,000 in the interest rate is 4.25% and the time is 5 years?

Mathematics
1 answer:
coldgirl [10]3 years ago
8 0

Answer:

  $2,550

Step-by-step explanation:

The applicable formula for simple interest is ...

  I = Prt

Filling in the given values and doing the arithmetic, we find the interest to be ...

  I = $12,000×0.0425×5 = $2,550

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