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Math

Answered

what is the amount of interest for a loan of 12,000 at 9% interest for 1 year

Sagot :

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Answer:

₱13080

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 9%/100 = 0.09 per year.

Solving our equation:

A = 12000(1 + (0.09 × 1)) = 13080

A = $13,080.00

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