What is a fixed percent of the principal?
1 answer:
Fixed Percent rate does not change in the life of the loan or investment. A fixed
percentage rate is more stable because you will always know how much
your payment will be.
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0.67n + 320
=(0.67 * 430) + 320
= 288.1 + 320
= $608.1
0.67n + 320 = 728.70
0.67n = 728.70 - 320
0.67n = 408.7
n = 408.7 / 0.67
n = 610 Bags of peanuts
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