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Sagot :
Solution:
Given:
[tex]\begin{gathered} P=\text{ \$}12,000 \\ R=8\text{ \%} \\ T=1year \end{gathered}[/tex]Using the simple interest formula,
[tex]\begin{gathered} I=\frac{PTR}{100} \\ I=\frac{12000\times1\times8}{100} \\ I=\text{ \$}960 \end{gathered}[/tex]Therefore, the simple interest is $960.
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