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If an interest rate of 5% results in interest of $50, what is the principal amount of the loan?
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If an interest rate of 5% results in interest of $50, what is the principal amount of the loan?
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Mar 1, 2022
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If an interest rate of 5% results in interest of $50,
what is the principal amount of the loan?
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Bonfo
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Answer:
Ñpswplmlpspapppapapa
Bunkerbuster
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Mar 2, 2022
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8
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X times 0.05 = $50
Solve for x
We do the inverse of times which is divide
$50 divide by 0.05 = $1000
Thus, $1000 is the amount of loan.
ObjectType
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Mar 6, 2022
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