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22-10-2018
Mathematics

contestada

Find the simple interest earned on a $500 investment for 8 months, if the interest rate is 10%

Respuesta :

altavistard altavistard

26-10-2018

Answer:

$33.33

Step-by-step explanation:

Use the formula i = prt, where p is the principal, r is the interest rate as a decimal fraction and t is the elapsed time in years.

Here, i = $500*(0.10)*(2/3 year) = $33.33

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