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All you need is in the photo please answer A and B

All you need is in the photo please answer A and B-example-1

1 Answer

5 votes

Answer:

$80.75

Step-by-step explanation

From the question,w e are given the following parameters

Amount borrowed (Principal) = $3800

Time = 3 months = 1/4 years

Rate = 8.5%

Required

Interest paid by the man

Using the simplr interest formula;

SI = Principal * Rate * Time/100

SI = 3800*8.5 * 0.25/100

SI = 38 * 8.5 * 0.25

SI = $80.75

Hence the man paid $80.75 for the use of the money

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