ALGERBRA

THE PRINCIPAL IS BORROWED AT SIMPLE INTREST RATE OF R FOR A PERIOD OF TIME t. Find the simple interest rate owned for the time use of the money. Assume 360 days in a year.
P=$5000, R=8.5% t =9 months.

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  1. I = PRT

    I = 5000 * 0.085 * 0.75

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