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majarm majarm
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6 years ago
Bilal had got his first monthly paycheck of $5800 from his job and decided to deposit it into a new account with a 1.2% simple interest rate p.a. After half a year, how much interest had this initial deposit garnered?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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wrote...
6 years ago
P = $5800.00;  r = 1.2% = 0.012;  t = 0.5
I = Prt = (5800)(0.012)(0.5) = $34.80
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