Calculate the Simple Interest for the Following

question 29

Short Answer

Calculate the simple interest for the following:
a) $13,500, 11%, 112 days
b) $8,200, 6%, 5 months
c) $19,250, 7.5%, 1 year

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Definitions:

Bonus

A financial reward provided to employees in addition to their regular salary, often based on performance.

Gainsharing Program

A system in which a business shares cost savings or productivity gains with its employees, fostering employee engagement and performance boost.

Labor Costs

The total sum of all compensation paid to employees, including wages, benefits, and taxes, considered an expense for the employer.

Sales Value

The total revenue generated through the sale of goods or services, representing an important metric for business success.