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31 October, 08:22

Find the simple interest.

principal = $10,400; rate = 12.5%; time = 11 years

A.$1300

B.$9152

C.$11,700

D.$14,300

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Answers (1)
  1. 31 October, 11:28
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    Firstly we need to find out how much is 12.5% from $10 400:

    10 400 * 12.5% =

    = 10 400 * 12.5/100 =

    = 104 * 12.5 =

    = 1300

    Now we multiply the result by 11 (years):

    1 300 * 11 = 14 300

    So the simple interest is $14 300.

    Correct answer: D
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