Chapter 7 Percent Worksheet With Answers Page 45
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477.5 Interest
1. Calculate simple interest
e.g.4 ADVERTISING EXPENSESA business borrowed
$15,500 for 90 days to pay for advertising on the
Internet. If the simple interest rate is 16%, find the
total amount that must be repaid at the end of 90-day
loan.
Convert 90 day to year: 90/365
45
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