Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. p= $470, r=7.75%, t= 5.25 years The simple interest is $ (Round to the nearest cent as needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 21E
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Determine the simple interest. The rate is an annual rate. Assume 360 days in a year.
p= $470, r=7.75%, t = 5.25 years
The simple interest is $.
(Round to the nearest cent as needed.)
Transcribed Image Text:Determine the simple interest. The rate is an annual rate. Assume 360 days in a year. p= $470, r=7.75%, t = 5.25 years The simple interest is $. (Round to the nearest cent as needed.)
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