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OpenStudy (anonymous):
Hi, Please find the interest on 1,000 at 18% annual interest for 8 months. Please be very detailed with your answer.
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OpenStudy (owlfred):
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OpenStudy (gw2011):
I=PRT 18%=0.18 8 months=8/12 of one year or 2/3 of one year since 8/12 reduces to 2/3 I=(1000) (0.18) (2/3) I=$120 This is the interest
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