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When interest is calculated for periods shorter than a year, the formula to calculate interest is: A. I = P R T, where I =

When interest is calculated for periods shorter than a year, the formula to calculate interest is:

A. I = P R T, where I = interest calculated, P = principal, R = annual interest rate, and T = number of months.

B. I = P R T, where I = interest calculated, P = principal, R = annual interest rate, and T = (number of months 12).

C. I = P R T, where I = interest calculated, P = principal, R = monthly interest rate, and T = (number of months 12).

D. I = (MV P)/T, where I = interest calculated, MV = maturity value, P = principal and T = number of months.

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