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OpenStudy (anonymous):
What is the interest to be paid on a loan amount of $340 over a 9 month period if the rate of interest is 8%?
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OpenStudy (anonymous):
$20.04
OpenStudy (anonymous):
interest = principal*rate*time per year
OpenStudy (anonymous):
isnt it 20.4??
OpenStudy (anonymous):
Oh yes. It is $20.4. Sorry!
OpenStudy (anonymous):
=D
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