In 1990, when the CPI-U was 132.4, the
1 answer:
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We know that,
Interest, I =
Where, P = Principal = $1300
R = rate of interest = 9% annually =
%
T = Time = 1 month
So, I =![\frac{1300×[tex] \frac{9}{12}](https://tex.z-dn.net/?f=%20%5Cfrac%7B1300%C3%97%5Btex%5D%20%5Cfrac%7B9%7D%7B12%7D%20)
×1}{100} [/tex]
= $9.75
Interest paid per month is $9.75
Interest, I =
Where, P = Principal = $1300
R = rate of interest = 9% annually =
T = Time = 1 month
So, I =
= $9.75
Interest paid per month is $9.75