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Mathematics 9 Online
OpenStudy (anonymous):

A home builder obtained a preconstruction loan of $50,000 for 8 months at an annual interest rate of 9.5%. What is the simple interest due on the loan?

OpenStudy (mertsj):

Do you know that interest = principal x rate x time?

OpenStudy (anonymous):

I=(0.095)(50,000)(8/12) is this correct?

OpenStudy (xxdragoonxx):

Yup.

OpenStudy (anonymous):

Thank you so much!

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