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Lena [83]
3 years ago
7

With interest of $1,832.00 and a principal of $16,000 for 206 days, use the ordinary interest method to determine the rate.

Mathematics
2 answers:
nexus9112 [7]3 years ago
5 0
<span>I = 1832 </span>
<span>P = 16000 </span>
<span>T = 206/365 years </span>
<span>Rate of interest = [100*I] / [P*T] </span>
<span>= [100*1832] / [16000*206/365] </span>
<span>= 20.29% per annum</span>
sergey [27]3 years ago
3 0

Answer:

20%

Step-by-step explanation:

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