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Find the simple interest for each principle,rate,and time.Round to the hundredths place

44.) $500 invested at 6 1/4 for 5 years

45.) $769 borrowed at 5% for 13 months

Verified Answer :

iGreen

\(\sf~I=prt\)

Plug in what we know:

\(\sf~I=(500)(6 1/4\%)(5)\)

Multiply:

\(\sf~I=156.25\)

Do it with the next one:

\(\sf~I=prt\)

Plug in what we know:

\(\sf~I=(769)(5\%)(13)\)

Multiply:

\(\sf~I=499.85\)

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