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Simple Interest:
54000 x 0.038 x (3/12) = I don't know what I'm doing wrong
I = Prt I = 54000*.03875*3 54000 is the principal .00875 is the same thing as 3+(7/8) %, because to make a decimal a percentage you multiply by 100 3 is the time I = 6277.5 That's the amount that has been made off of interest alone. If you're looking for the total amount of money, it's 54000+6277.5=60277.5
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