Use the Simple Interest Formula to Determine the Missing Value

question 146

Multiple Choice

Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest cent and percents to the nearest hundredth when necessary
-p = $6205, r = ?, t = 5 months, i = $90.49

• A) r = 3.5%
• B) r = 1.4%
• C) r = 0.04%
• D) r = 28.57%

Understand the components and importance of employment contracts, including the provision related to restraint of trade.

Identify the evidence required by courts to prove a transaction is usurious.

Explain the concept of public policy and identify agreements that violate public policy.

Distinguish between regulatory and revenue-raising licensing statutes and understand their significance in contract law.

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