Answer:
Explanation:
I=PRT/100
I=$50×5×1 all divided by 100
I=250/100
I=5/2 or $2.50
solution
Borrow = p = $50
Time periods = t = 1 year
Rate = R = 5 %
interest = I =?
I = P*t*R
I= 50 x 1 x 5/100
I= 2.5
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