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Catracho Catracho
wrote...
Posts: 529
Rep: 2 0
5 years ago
Find the interest on the following loan.

​$1900 at  8​.5% for 9 months
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Educator
5 years ago
I'm assuming it's simple interest. The formula for simple interest is:

\(A=P(1+rt)\)

\(A=1900\left(1+0.085\left(9\right)\right)\)

\(A=446.6\) That's how much is earned after 9 months at 8.5% simple interest (not compounded)
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