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30 September, 11:05

640,3%,2 year simple interest earned to the nearest cent for each principal interest rate and time

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Answers (1)
  1. 30 September, 13:16
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    Simple interest = $38.4

    Solutions

    Simple interest, I = principal x rate x time

    Principal = $640

    Time = 2 years

    Rate = 3% = 3/100 = 0.03

    Remember, always divide your rate in percent by 100.

    Don't forget to read the question and approximate correctly.
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