What is the simple interest for a principal of $650 invested at a rate of 9% for 5 years?
1 answer:
Answer: 292.50 dollars
Work Shown:
P = 650 is the the principal.
r = 0.09 is the interest rate in decimal form.
t = 5 is the number of years.
i = P*r*t
i = 650*0.09*5
i = 292.50 is the simple interest.
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