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14 October, 21:54

P = $500 R = 8% T = 3 months (3/12)

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  1. 14 October, 22:45
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    Answer: I = $10

    Step-by-step explanation:

    Convert the Rate, R to decimal

    Convert the time (3 months) to year.

    Then use:

    Formula: I = P x R xT

    I = 500 x 0.08 x 0.25

    I = $10
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