the equation for simple interest is I= p r t (I=interest, p=principal, r=rate, t=time) Find the simple interest paid to the near
est cent for a loan of $1750 at 12% for 18 months (1.5 years).
1 answer:
Answer:
Simple Interest = $315
Step-by-step explanation:
The formula for Simple Interest
I = P× R × T
I=interest, p=principal, r=rate, t=time
P = $1750
R = 12% = 0.12
T = 1.5 years
I = $1750 × 0.12 × 1.5
I = $315
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