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20 September, 16:47

Sarah has a loan for 1800 and rate of 16% annually if the interest is not compared to how much interest will she pay in four years

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  1. 20 September, 16:49
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    I = $288

    Step-by-step explanation:

    First, converting R percent to r a decimal

    r = R/100 = 16%/100 = 0.16 per year,

    then, solving our equation

    I = 1800 * 0.16 * 1 = 288

    I = $ 288.00

    The simple interest accumulated

    on a principal of $ 1,800.00

    at a rate of 16% per year

    for 1 years is $ 288.00.
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