The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P...

The principal P is borrowed at simple interest rate r<br>for a period of time t. Find the simple interest owed<br>for the use of the money. Assume 360 days in a year<br>and round answer to the nearest cent.<br>P = $6900<br>r = 8.5%<br>t = 18 months<br>%3D<br>$879.75<br>$7779.75<br>$959.73<br>$10,557.00<br>

Extracted text: The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P = $6900 r = 8.5% t = 18 months %3D $879.75 $7779.75 $959.73 $10,557.00

Jun 05, 2022

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The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P...

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