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16 March, 13:36

The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answers to the nearest cent.

P=$180, r=3%, t = 2 years

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  1. 16 March, 17:14
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    Y = (180 (1+.03) ^2) - 180
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