Find the simple interes charged on a loan of $26,500 for 8 months at an interest rate of 7%. Show ALL your work or explain

Mathematics

1 answer:

Dovator [93]3 years ago

6 0

Answer:

$1236.67

Step-by-step explanation:

I = Prt

P = 26500

r = 0.07

t = 8/12 = 2/3

I = (26500)(0.07)(2/3)

I = 1236.67

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