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jok3333 [9.3K]
3 years ago
15

Find the simple interest on $500 at six percent for one year

Mathematics
1 answer:
solmaris [256]3 years ago
7 0

Answer: $30

Step-by-step explanation: The formula for simple interest is principal x rate x time.

Putting your numbers into the formula, it will look like this:

I = 500 x .06 x 1

I = 30 x 1

I = 30

The interest on $500 for one year is $30.

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