Find the interest if principal is 42000, rate 5 1/2% and time is 2 1/2 years
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Answer:
principal=42000
rate=5.5% (1/2=.5)
time= 2.5 (1/2=.5)
interest = principal×rate×time/100
= 42000×5.5×2.5/10
=5775
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