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OpenStudy (anonymous):
George had to borrow $36,000 for a new caf for 8months. The interest rate was 15% per year. How much interest did he gave for borrowing the $$ for 8months?
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OpenStudy (anonymous):
i think it is compound interest
OpenStudy (anonymous):
A= P(1+(r/n))^(nt) P= $36,000 r=0.15 n= 1 t=8/12
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