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Papessa [141]
3 years ago
7

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?
Mathematics
1 answer:
vichka [17]3 years ago
4 0
I=prt
20=p X .05 X 5
20 = p X .25
20/.25 = p
80 = p
She started with $80
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A bank account yields 7 percent interest, compounded annually. If you deposit $1,000 in the account, what will the account balan
lianna [129]
Hi there
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A future value?
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It's a

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