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July 5, 2015

Homework Help: Mathhh!!

Posted by Cindy on Saturday, March 31, 2007 at 10:18pm.

Sally deposited $3600 and the annual rate of interest is 6.5%. What is the interest amount for a 30-month period?

I = prt.
I = amt of interest
p = principal
r = rate (0.065 per year)
t = time in years = 2.5 years
I = 3600*0.065*2.5 = ??

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