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July 31, 2014

July 31, 2014

Posted by **Anonymous** on Monday, October 3, 2011 at 10:04pm.

- simple interest -
**drwls**, Monday, October 3, 2011 at 10:11pmThe length of the loan is 45 days. That is 1.5 months (1/8 year). The simple interest owed would be

18,000*[(0.05)/8]

= 112.50

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