Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10: 0134467795
ISBN 13: 978-0-13446-779-5

Chapter 6 - Percent - Review Exercises - Page 467: 58

Answer

$67.50

Work Step by Step

Interest = $ principal \times rate \times time$ Principal = 1080 rate = 5 % = 0.05 time = $1\frac{1}{4} = \frac{5}{4}$ years Interest = $ 1080 \times 0.05 \times \frac{5}{4}$ = 67.50 Dollars
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