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Please answer ASAP! In the situation, simple interest is calculated yearly. How much interest was earned? Principal: $5500; Time: 8 years; Interest rate: 2.5%; Interest? A.$137.50 B.$1,100 C.$5,500 D.$6,
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Please answer ASAP! In the situation, simple interest is calculated yearly. How much interest was earned? Principal: $5500; Time: 8 years; Interest rate: 2.5%; Interest?

A.$137.50
B.$1,100
C.$5,500
D.$6,600
E.$44,000

User Anthony C
by
7.5k points

1 Answer

3 votes
Hello,

Shall we begin?

prinicipal= 5.500
time= 8 years
tax= 2.5% per year
j= interest=?

j = cit
j = 5.500 * 0,025 * 8
j = 1.100

Answers: interest 1,100.00 B
User Cclark
by
8.2k points
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