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Popular >

Calculate the amount of simple interest on 5000 for 6 years at 8% interest.

Solution

Calculate the amount of simple interest on 5000 for 6 years at 8% interest.

Solution

Interest : 2400

Solution steps

Translate the problem into an equation:

I = 5000 \cdot 0.08 \cdot 6

Simplify

I = 5000 \cdot 0.08 \cdot 6

Interest : 2400

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