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fiasKO [112]
3 years ago
13

Martha Jones received a $540 discount loan to purchase a new sewing machine. The loan was offered at 12.5% for 90 days. Find the

interest in dollars and the proceeds for the following problem.
The interest is $.

The proceeds are $.
Mathematics
2 answers:
In-s [12.5K]3 years ago
7 0
Hey! Hope that I can help.

To do this, you need to multiply the 540 by 12.5 and also \frac{1}{4} to get your answer.

Answer: 16.88
Reil [10]3 years ago
5 0
To find the interest you just use the interest formula which is
I=prt
I=?
P=540
R=0.125
T=90/360
I=540×0.125×(90÷360)=16.88

The proceeds
540−16.88=523.12

Hope it helps!
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