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15 October, 01:18

if the principal is $475 and the interest rate is 5 percent, what is the simple interest earned in one year?

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  1. 15 October, 01:46
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    I=23.75

    Step-by-step explanation:

    p=475

    r=5%

    I=PRT

    t = 1 year

    I=475*0.05*1

    I=23.75
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