Concept explainers
The simple interest.
Answer to Problem 5LC
The simple interest after 6 years will be $180.
Explanation of Solution
Given:
Principal amount is $1200.
Interest rate is 2.5%.
Time is 6 years.
Calculation:
The formula to calculate Simple Interest is:
Therefore, put the given values:
Therefore, the simple interest after 6 years will be $180.
Chapter 2 Solutions
High School Math 2015 Common Core Algebra 1 Student Edition Grade 8/9
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