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3 years ago

7

What is the principal, if the interest earned is $22, the simple annual interest rate is 2%, and the time is one year?

1 answer:

seropon [69]3 years ago

4 0

Answer:

$1,100

Step-by-step explanation:

first find the principal first Multiply the rate 0.02 by the time 1 year this gives us 0.02 then divide the interest ($22) by 0.02 then you get $1,100.

Hope that helped!

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