BradleyN642765 BradleyN642765

28-10-2022
Mathematics

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3. Jack borrows $2,700 at a rate of 8.2% per year. How much simple interest will he owe if it takes 3 months to repay the loan? Round to the nearest cost?

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SaoirseN414356 SaoirseN414356

28-10-2022

Answer

Explanation

The Simple Interest (SI), accrued on an initial amount invested, called the principal, P, at a is given as

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