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Use the simple interest formula.  p=? r=8%, t=3 months, i=$44          what is the answer for the principal?
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2 votes
Use the simple interest formula. 

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

User Bumsik Kim
by
8.8k points

2 Answers

3 votes
I=PRT
8%/100=.08
$44=P(3)(.08)
14.67=P(.08)
P=183.33333333

User Lcn
by
8.8k points
3 votes
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)
User Spaceman Spiff
by
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