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9 November, 12:57

Celeste Nossiter borrowed $6200 from her father to buy a used car. She repaid him after 9 months, at an annual interest rate of 7.1%. Find the total amount she repaid. How much of this amount is interest?

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  1. 9 November, 16:54
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    330.15

    Explanation:

    I = Prt

    Interest = Principle x rate x time

    P = 6200

    R = 7.1% = 0.071

    T = time in years * 9/12 = 0.75

    I = 6200 x 0.071 x 0.75

    330.15

    therefore for Celeste interest that she repaid is $330.15
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