Use the Formula $i = P r t$ To Reach a Solution for the Following Problem

question 213

Multiple Choice

Use the formula $i = P r t$ to reach a solution for the following problem. How much interest will be charged on a student loan if $8,820 is borrowed for 4 months at a 18% annual interest rate?

• A) $530.40
• B) $534.20
• C) $529.20
• D) $525.70
• E) none of these

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