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Arithmetic Ability
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Q.
Jaclyn buys $50 000 worth of debentures in a company. She earns 9.5% p.a. simple interest, paid to her quarterly (that is, every 3 months). If the agreed period of the debenture was 18 months: calculate the amount of interest Jaclyn will earn for each quarter
A.
1187.50
B.
1234
C.
1289
D.
1345
View Answer
Correct choice: A
Explanation:
I=(p x r x t)/100
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