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- anonymous

How much simple interest is earned on $2500 at 2% interest for 9 months?
Give your answer in dollars and cents.
Simple Interest
I = p • r • t

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- anonymous

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- anonymous

- anonymous

i would think you would just substitute what you have into the formula. what is P? and r? and t?

- anonymous

i have 0 clue how to plug in the number into the equation

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- anonymous

well P is the investment which is 2,500 and r is the interest rate which is .02 because you cant have a percent and the t is time in years but you have months so you divide 9/12 (the 12 is from how many months in years)

- anonymous

ohh...well that was simple lol can you stick around to check my final answer please?

- anonymous

sure Cx

- anonymous

i got 37.5

- anonymous

yeah same

- anonymous

thankks for the help:)

- anonymous

np Cx

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