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25 March, 06:44

An amount of 18,000 was invested a 8% simple interest on may 25, 2017, how much shall be the amount of interest earned on October 12, 2017 using the four methods of computing the interest

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  1. 25 March, 07:09
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    The formula to find the amount of interest earned is I = PRT.

    What is given?

    Principal = $18000

    Rate =.08 (I assume you confused rate and si)

    Time =.3671 in years (convert days into years) by dividing total days by 365.

    I = ?

    I = 18000 (.08) (.3671)

    I = $528.62
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