Question: A. TA = P + I; I = (P x i x t) 1. Peter borrowed $1,200 for 5 months at 9% interest. 2. A

A. TA = P + I; I = (P x i x t) 1. Peter borrowed $1,200 for 5 months at 9% interest.

2. A debt of $2,600 plus $52.00 interest was paid in full at the end of the third month. What was the interest rate used?

3. A debt of $4,800 was paid with a check in the amount of $4,980. If the interest rate was 7%: How long did it take to pay?

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