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The interest charged on a principal of2650 at an interest rateof5.11%over 30months is
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The interest charged on a principal of2650 at an interest rateof5.11%over 30months is

User CorPao
by
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1 Answer

5 votes

We have Interest formula as:


I=P* R* T

Where: P = 2650

R = 5.11% = 0.0511

T = 30

So:


I=2650*0.0511*(30)/(12)=338.5

Answer: $338.5

User Jens Utbult
by
4.2k points
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