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business math

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Janet Home went to Citizens Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was Sept 20. Janet hoped to repay the loan on Jan.20. Assuming the loan is based on ordinary interest, Janet will pay back interest on Jan.20 is?

  • business math - ,

    I = PRT

    I = 7,000 * 0.08 * 0.333

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