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What does the P represent in the formula's for simple and compound interest?A The initial amount of the loanB The interest rate as a decimalC The length of the loan in years
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What does the P represent in the formula's for simple and compound interest?A The initial amount of the loanB The interest rate as a decimalC The length of the loan in years

User Ziima
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1 Answer

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Given the formula for simple interest:


I=P\ast R\ast T

Given the formula for compound interest:


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User Javier Larroulet
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