Question

The following information is known about a loan. Time = 8 years Interest rate = 14% Principal = $1,010 What is the total amount of simple interest that is earned? $113.20 $1,131.20 $11,311.20 $113,112.00

Answer 1

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The answer is below!!

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Step-by-step explanation:

$1010$ x $14$ ÷ $100$ x $8$ = $$1131.2$ $or$ $1,131.20

P.S Tell me if this is wrong...

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