Step-by-step explanation:
Simple interest =P (1+. R )^n
/100
Where P is the amount
R is rate (%)
n is number of years
So if you are given months your divide ➗ the number of months by 12 years
2710 *(1+ [ 3.8/100])^3/12
X
--- × 56 =18
100
56x = 18×100
× = 18 × 100
- - - - - - -
56
X = 32.14%
.059, you move the decimal point two times to the left and the other way around when you want to convert into a percent
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