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Intrest problem

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Abe Wolf bought a new kitchen set at sears. Abe paid off the loan after 60 days with an intrest change of 9 dollars. If sears charges 10% interest, what did Abe pay for the Kitchen set Assume 360 days

  • Intrest problem -

    In this case you don't know the P in
    I = PRT , so let's sub in what we know

    9 = P(.10)(60/360)
    9*360/(.10*60) = P
    P = 540

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