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Sunny_sXe [5.5K]

3 years ago

5

Casandra is calculating how much interest she will earn in investments that are eating simple interests. She knows that simple i

s paid only on the original amount that was deposited (the principal). For one amount of money that was invested for three years, she wrote the equation I= 500(0.025)(3)=$37.50. In Casandra's equation, identify the principle, interest, rate, time.

1 answer:

Zinaida [17]3 years ago

3 0

Answer:

Principal = $500

Interest = $37.50

Rate = 0.025 = 2.5%

Time = 3 years

Step-by-step explanation:

The formula for simple interest is I = PRT ÷ 100

Casandra's equation = I= 500(0.025)(3)=$37.50

Principal = $500

Interest = $37.50

Rate = 0.025 = 2.5%

Time = 3 years

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