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Calculate the simple interest on a loan of 18500 at 11 percent annual interest for 18 months?
Wiki User
∙ 14y ago
18 months is 1.5 years, so you'll pay (1.5 x 11) = 16.5 percent of the principle at the end of that time. 16.5 % of 18,500 = (0.165 x 18,500) = $3,052.50
Wiki User
∙ 14y ago
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