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2 years ago

13

simple interest = P × r × t Perry earns 5 percent simple interest annually on his savings account. How much interest will Perry

earn each month on $650?

1 answer:

vagabundo [1.1K]2 years ago

5 0

P = $650
r = 5% annually = 0.05
t = 1 month = 1/12 year

SI = Prt = 650 * 0.05 * 1/12 = $2.7

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