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professor190 [17]
3 years ago
8

Damon convinced his aunt to lend him $6,900 to purchase a plasma digital TV. She has agreed to charge only 12 percent simple int

erest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year
Business
1 answer:
siniylev [52]3 years ago
3 0

Answer:

444

Explanation:

Simple Interest for a year can be calculated using

I = PRT/100

P= Principle amount

R= percent simple interest

T= time

(3700)(12)(1)/100 = 444

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