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$2,300 at 7% interest for 9 years. What would the interest be?

User Ryan Ries
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We want to find the simple interest accrued on $2,300 at 7% interest for 9 years.

The formula for simple interest is given as;


I=(P* R* T)/(100)

Inserting the values, we have;


I=(2300*7*9)/(100)=\text{ \$1449}

Therefore, the interest is $1449

User Knoefel
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