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8 December, 21:09

Find the simple interest

Principal

$400

Rate

16%

Time

12 months

The interest is $

(Round to the nearest cent.)

+5
Answers (1)
  1. 8 December, 21:12
    0
    464

    Step-by-step explanation:

    so simple interest formula is ptr/100. then 400*1*16 / 100.

    the answer is 64. now adding if to the principal will give you 400 + 64 = $464
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