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A contractor gives a bank note for $10250 at a rate of 1% for one month. How much interest is charged for 4 months?

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Answer to a math question A contractor gives a bank note for $10250 at a rate of 1% for one month. How much interest is charged for 4 months?

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Bud
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59 Answers
p=10250, r=0.01 and t=4; now si=ptr=10250 * 0.01 * 4=410

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