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In this situation, simple interest is calculated yearly. How much interest was earned? Principal: $12,000; Time: 2 years: Interest rate: 10%; Interest: ?

In this situation, simple interest is calculated yearly. How much interest was earned? Principal: $12,000; Time: 2 years: Interest rate: 10%; Interest: ?
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In this situation, simple interest is calculated yearly.

How much interest was earned?
Principal: $12,000; Time: 2 years: Interest rate: 10%; Interest: ?

User Richard A Quadling
by
8.6k points

1 Answer

6 votes

Answer:

1,200

Step by step Step-by-step explanation:

10% of 12000 is 1200 so the interest is 1200

User Marlissa
by
8.3k points
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