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An amount of 18,000 was invested a 8% simple interest on may 25 , 2017 , how much shall be the amount of interest earned on October 12, 2017 using the four methods of computing the interest

Respuesta :

tejanoajet
The formula to find the amount of interest earned is I = PRT.
What is given?
Principal = $18000
Rate = .08 ( I assume you confused rate and si)
Time = .3671 in years (convert days into years) by dividing total days by 365.
I = ?

I = 18000(.08)(.3671)
I = $528.62

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