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jenna1414 jenna1414
  • 16-03-2014
  • Mathematics
Answered

Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.
What is the rate of return

Verified Answer :

Edmund
Edmund Edmund
  • 16-03-2014

\(I=PRT\)

\(I=1700(0.082)(7)\)

\(I=975.80\)

\(Return=Interest+Principal\)

\(Return=1700+975.80\)

\(Return=2675.80\)


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