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Principle 1850 Rate 6 / Time 21months |
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Answer» Answer: CALCULATE the SIMPLE interest amount of PRINCIPAL amount of $5,000, ANNUAL interest rate of 6% and time of 18 months. Solution: principal amount = $5,000 rate = 6% m = 12 months/year n = 18 months simple interest amount = $5,000 × (6% / 12months/year) × 18months = $5,000 × (0.06 / 12months/year) × 18months = $450 Step-by-step explanation: its just an EG |
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