The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year. P = $2000, r = 5.5%, t = 18 months O $165 O $908 O $168 $1980

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The principal P is borrowed at a simple interest rate r for a period
of time t. Find the simple interest owed for the use of the money.
Assume there are 360 days in a year.
P = $2000, r = 5.5%, t = 18 months
$165
$908
$168
$1980
Transcribed Image Text:The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year. P = $2000, r = 5.5%, t = 18 months $165 $908 $168 $1980
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