Anhboy0312 Anhboy0312

22-02-2021
Mathematics

contestada

Determine the simple interest when: principal: $205,435 interest rate: 2.8%, time: 15 year

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ADVENTUROUSBOY ADVENTUROUSBOY

23-02-2021

$86282.7

Step-by-step explanation:

principle (p) = $205,435

rate (r) = 2.8%

time (t) = 15 years

simple interest = (p × r × t) ÷ 100

= (205,435 × 2.8 × 15) ÷ 100

= 8,628,270 ÷ 100

= 86282.7

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