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Aliena invested $2500 in a credit union for 18 months earning 6% p.a. simple interest. How much interest should she have accrued?

 Apr 7, 2015

Best Answer 

 #2
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6% = 6/100 = 0.06

2500 x 0.06 = 150 interest per p.a (12 months)

150/12 = 12.5 interest per month.

18 months so interest accrued = 18 months x 12.5 interest per month

                                             = $225

 Apr 7, 2015
 #1
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+5

I=Prt

P=2500

r=0.06

t=1.5

You can finish it :)

 Apr 7, 2015
 #2
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+5
Best Answer

6% = 6/100 = 0.06

2500 x 0.06 = 150 interest per p.a (12 months)

150/12 = 12.5 interest per month.

18 months so interest accrued = 18 months x 12.5 interest per month

                                             = $225

Guest Apr 7, 2015

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