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

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    2021-08-23T22:55:19+00:00

    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

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