Princesscxrinne Princesscxrinne

15-03-2018
Mathematics

contestada

Find the simple interest. $18,981 at 9% for 208 days

Respuesta :

andriansp andriansp

24-03-2018

Since the interest is simple, you don't have to compound it multiple times. You just need to divide the 208 days with 365days. The calculation would be:

interest= principal * number of year * rate
interest= $18,981 * 208/365 * 9%=$973.49

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