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3 years ago

A bank loans $2100 to a business at 7% for 3 months. How much simple interest will the bank earn?

Mathematics

1 answer:

Natali [406]3 years ago

7 0

Answer:

$36.75

Step-by-step explanation:

The amount of interest payable is given by ...

I = Prt = $2100·0.07·(3/12) . . . . . . . . t is in years

I = $36.75

The bank earned $36.75 on the loan.

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2 years ago

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3 years ago

A bank loans ​$2100 to a business at 7​% for 3 months. How much simple interest will the bank​ earn?

A bank loans $2100 to a business at 7% for 3 months. How much simple interest will the bank earn?