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31 December, 15:58

Find the ordinary interest on $1,800 for two months at a rate of 12%.

A. $216 B. $54 C. $36 D. $32

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  1. 31 December, 16:02
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    12 % simple interest rate per year = 1 % per month

    I = P x r x t

    Interest = $1,800.00 x 1 % x 2 months

    Interest = $18.00 x 2

    Interest = $36.00
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