Question
Asked Oct 31, 2019
Find the simple interest. Assume a 360-day year. Round results to the nearest cent.
1) $3180 at 5% for 9 months
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Find the simple interest. Assume a 360-day year. Round results to the nearest cent. 1) $3180 at 5% for 9 months

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Expert Answer

Step 1

Recall the follow...

Simple interest = PNR
where P is the principal amount
N is the number of years
R is the rate of interest
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Simple interest = PNR where P is the principal amount N is the number of years R is the rate of interest

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Advanced Math