## Basic College Mathematics (10th Edition)

Published by Pearson

# Chapter 6 - Percent - 6.7 Simple Interest - 6.7 Exercises - Page 447: 29

$2043 #### Work Step by Step We can calculate simple interest on a loan by using the formula$I=prt$(where I is the interest, p is the principal, r is the rate of interest, and t is the amount of time - expressed in years).$t=\frac{3}{2}$, because 18 months equals 1.5 years$I=prtI=1800\times.09\times\frac{3}{2}=243$dollars Finally, we can find the amount due by adding the interest to the original principal.$1800+243=2043\$ dollars

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