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Vilka [71]
3 years ago
14

Sam received $10.50 in interest after placing money in his bank. if the account paid 4% in simple interest and he only left it i

n the account for 9 years, what is the principal?​
Business
1 answer:
ozzi3 years ago
7 0

Answer:

$29.166

Explanation:

I = p x r x t

Where I= Interest: $10.50

P= principal amount: ????

r= interest rates: 4% or 0.04

t= time in years: 9

Therefore;

$10.50 = P x 0.04 x 9

$10.50 = P0.36

P=$10.50/0.36

P=29.166

Principal = $29.166

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Answer:

The option which is not a task of the bankruptcy trustee is;

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Explanation:

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4)  Upholds or refuse claimants to specific debts

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2 years ago
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Answer:

the effective rate of interest on the debt is 6.38%

Explanation:

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It could be determined by applying the above formula so that the correct rate could come

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Mekhanik [1.2K]

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Learn more here: brainly.com/question/17043850

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Explanation:

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