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30 June, 20:53

Use the simple interest formula.

p=? r=8%, t=3 months, i=$44 what is the answer for the principal?

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Answers (2)
  1. 30 June, 20:56
    0
    I=PRT

    where I=interest

    P=principal (amount invested)

    R=rate

    T=time period

    44=P*8%*3

    44=P*0.24

    P=44/0.24

    P=183.333333 (repeating decimal)
  2. 30 June, 21:22
    0
    I=PRT

    8%/100=.08

    $44=P (3) (.08)

    14.67=P (.08)

    P=183.33333333
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