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March 30, 2017

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a formula for calculating simple interest is I = Pr, were I is the interest earned in dollars, P is the principal or original investment, and r is the fixed rate of interest. If the amount of interest earned is $2.25 and the interest rate is 3%, what is P?

  • math - ,

    I = PR

    2.25 = P * 0.03

    2.25 / 0.03 = P

    75 = P

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