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3 years ago

Interest: How much time will it take for an amount of 450 to yield 81 as interest at 4.5% per annum of simple interest?

Business

1 answer:

True [87]3 years ago

7 0

Answer:

4 years

Explanation:

Simple Interest is calculated using the formula below

I= P x r x t

Where I = Interest

p= principal

r= interest rate

t= time in years

In this case

I=81

p=450

r=4.5 % or 0.045

t=???

Therefore;

81= 450 x 0.045 x t

81=20.25t

t=81/20.25

t=4

It will take four years

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According to peterson, what was the catalyst for the formation of the first truly global trade network?

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2 years ago

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