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Using the simple interest formula I = PRT, calculate the interest that would be earned.

Principal = $1000

Rate = 6%

Time = 2 years

$12

$120

$1200

$12000

+1
Answers (1)
  1. 30 May, 11:24
    0
    SI = P * R * T

    SI = 1000 * 6/100 * 2 = $120
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