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4 December, 00:00

What is the amount of money, P, that will generate $40 in interest at a 10% interest rate over 5 years?

$60

$80

$90

$100

+5
Answers (1)
  1. 4 December, 00:05
    0
    Remember that you can do anything to an equation as long as you do it to both sides

    so

    I=PRT

    divide both sides by RT

    =P

    P=?

    I=40

    R=10%=0.1

    T=5

    plug it in

    =P

    =P

    80=P

    answer is B, $80
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