Question: Correct answer The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the

Correct answer

The principal P is borrowed at simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. Type the number in the box provided. (Don't forget to type the $ sign in front of the number.) P = $140 r = 8% t = 3 years

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