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    Contemporary Business Mathematics Study Set 1
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    Exam 7: Simple Interest
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    Calculate the Amount of Interest That Will Be Charged on $7000.00
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Calculate the Amount of Interest That Will Be Charged on $7000.00

Question 51

Question 51

Essay

Calculate the amount of interest that will be charged on $7000.00 borrowed for five months at 5.5%.

Correct Answer:

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P = 7000; r = 0.055;...

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