Answered

Determine the exact simple interest on 1,000,000 invested for the period from October 24,1987 to January 7, 1990; if the rate of interest is 17%.​

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Iongitudeviz

Answer:

₱1,510,000

Step-by-step explanation:

t → 1990-1987 = 3

> Given P=1,000,000; r=0.17, t=3

Formula: P(1+rt)

> 1,000,000(1+(0.17)(3))

> 1,000,000(1+0.51)

> 1,000,000(1.51)

> 1,510,000

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