Joanne and Ed Greenwood built a new barn with an attached arena. To finance the loan, they paid $1338 interest on $50,400 at 3%. What was the time, using exact interest

Again using the same formulaSI = (PxRXT)/100here SI = 1338P= 50400R=3%So, 1338 = (50400*3*T)/100therefore, T = (1338*100)/(50400*3) = 0.88 Years (Answer)Please best the answer if helpful :) Thanks :)

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