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kvngkizzo kvngkizzo
  • 23-12-2015
  • Mathematics
Answered

Tahmar knows the formula for simple interest is I = Prt, where I represents the simple interest on an amount of money, P, for t years at r rate. She transforms the equation to isolate P : P = . Using this formula, what is the amount of money, P, that will generate $20 at a 5% interest rate over 5 years?

Verified Answer :

Since3122015
Since3122015 Since3122015
  • 23-12-2015

\(P=\frac{i}{rt}\\P=\frac{(20)}{(0.05)(5)}\\P=\frac{20}{.25}\\P=80\)

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Skrtysa
Skrtysa Skrtysa
  • 16-08-2018

80 is the answerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

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