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balandron [24]
3 years ago
9

The formula I = prt, where p stands for principal, r represents rate, and t represents time in years. Example: If you put $100 (

p) in an savings account with a 2% interest rate (r) for 1 year(t), this is the formula you would use to see how much money you would make.?
Business
1 answer:
Taya2010 [7]3 years ago
3 0

Answer: $2

Explanation:

The formula for simple interest = I = prt

I =$ 100 × 0.02 × 1 = $2

At the end of one year, $2 would be made.

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