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Answered

Find the interest on a used car loan of Php10,000 at a rate of 8% for a period of 8 months​

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Answer:

The interest would be Php 533.33

Step-by-step explanation:

P = Php 10,000.00

r = 8% = 0.08

t = 8 months = 8/12

...

I = (P)(r)(t)

I = (10,000)(0.08)(8/12) = Php 533.33

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