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Maths

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pauline paid $450 simple interest to borrow $20 000. The interest rate was 6% p.a. For what time period did she borrow the money?

  • Maths -

    I = prt

    t = I/pr
    t = (450*100)/(20000*6)
    t = 45000/120000= .375
    t = 3/8

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