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If Kendall loans Reagan $500 and charges her 2% simple annual interest. Reagan promises to repay Kendall in 14 months. How much will Reagan owe her

Rounded to the nearest cent
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1 Answer

A = p(1 + rt)
A = 500(1 + (0.02)(1 1/6))             14 months if 1 and 1/6year
 
Can you calculate A?