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
1 answer:
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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