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A certificate of deposit has an annual simple interest rate of 5.25%. If $567 in interest is earned over 6 years, how much was invested?
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A certificate of deposit has an annual simple interest rate of 5.25%. If $567 in interest is earned over 6 years, how much was invested?

User Ryan Pedersen
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1 Answer

4 votes
the interest isPrt
so P*0525*6=567
P=567/0.0525/6=1800
User Amerdidit
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