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09-01-2019
Mathematics

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Find the total amount owed after 6 months on a loan of $900 at an annual simple interest rate of 8.5%

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09-01-2019

Answer:

The answer would be $38.25

Step-by-step explanation:

I=PrT, where P is the principle amount, r is the interest, and t is the time in years. There for it would be, I=900*0.085*0.5 (0.5 because 6 months is half of a year)

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