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: 60

Answer

$152.10

Work Step by Step

Interest = $ principal \times rate \times time$ Principal = 1560 rate = $6\frac{1}{2}$ % = 6.5% = 0.065 time = 18 months = $\frac{18}{12} years = \frac{3}{2}$ years Interest = $ 1560 \times 0.065 \times \frac{3}{2}$ = 152.10 Dollars
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