nyquanhicks nyquanhicks

15-05-2021
Mathematics

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If the principal is $4,500 and the rate of interest is 8%, what is the amount of interest after one year? Formula is I =PRT

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annhernandez084 annhernandez084

15-05-2021

Step-by-step explanation:

I=?

P= $4500

R=8%=0.08

T=1 year

8%*0.01= 0.08

I=(4500)(0.08)(1)

(4500)(0.08)=360

360*1=360

The interest after one year is $360

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