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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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Mathematics
4 years
2021-08-23T22:53:57+00:00
2021-08-23T22:53:57+00:00 1 Answers
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Answers ( )
Answer:
$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