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OpenStudy (anonymous):
How much interest will be paid in 1 year for a loan of $3600 at 8 1/2% simple interest?
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OpenStudy (texaschic101):
I = PRT P = 3600 R = 8.5% = .085 T = 1 now sub I = (3600)(.085)(1) do the math and you will have the answer
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