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Sagot :
Principal = 9000
Interest rate = 7% = 0.07
Time = 5 years
Simple interest formula:
A = P(1 + rt)
In this case:
A = 9000(1 + 0.07*5) = 9000(1 + 0.35) = 9000(1.35) = 12150
Interest = A - P = 12150 - 9000 = 3
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