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Solve the Given Problem, Using the Formula I=PRT:I = P R T :

Question 28

Multiple Choice

Solve the given problem, using the formula I=PRT:I = P R T : Find the simple interest paid on a Ioan of $1,200\$ 1,200 at 814%8 \frac { 1 } { 4 } \% interest for 5 years.


A) $49.50
B) $4.95
C) $495
D) $4,950

Correct Answer:

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