📚 How to calculate simple interest (Part 5; r = I/Pt)
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📚 How to calculate simple interest (Part 5; r = I/Pt)
Simple interest (I) is interest calculate only on the original amount invested (i.e. the principal amount) I=Prt Where: I=interest earned ($) P=principal (amount invested) r=interest rate (decimal) t=time (years) Q1. An investment grew from $600 to $625.20 in 8 months. What rate of simple interest does the account pay? Q2. An investment grew ...
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