## He signed a promissory note with a term of three years the principal was $12,800 with interest at 12.5% how much did BP pay in interest on t Question He signed a promissory note with a term of three years the principal was$12,800 with interest at 12.5% how much did BP pay in interest on the note and on the maturity date how much did bo4 principal

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3 weeks 2021-08-23T22:53:57+00:00 1 Answers 0 views 0

$48,000 Step-by-step explanation: Step one: given data Principal=$12,800

rate= 12.5%

time = 3 years

Required

The Interest

Step two

SImple interest= PRT/100

substitute

SI= 12800*12.5*3/100

SI=480000/100

SI=\$48,000