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HampsterHank
HampsterHank HampsterHank
  • 09-01-2017
  • Mathematics
Answered

Compute the amount of interest earned in the following simple interest problem.


A deposit of $1,600 at 6% for 180 days:

Verified Answer :

abdulmjabar
abdulmjabar abdulmjabar
  • 09-01-2017

with 6% is 1,696. for 180 days, $305,280

Answer Link
apologiabiology
apologiabiology apologiabiology
  • 09-01-2017

I=PRT
I=interest
P=principal
R=rate in decimal
T=time in yaers

365 days per year
t=180/365

given
P=1600
R=6%=0.06
T=180/365

I=16000.06180/365
I=96*180/365
I=47.342

rounds to
Interst=$47.34

Answer Link

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