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Business Math

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Find the amount of the principal on a loan at 6% interest for 274 days if the interest was $68.50, using the ordinary interest method. (Round to the nearest whole dollar amount)

  • Business Math - ,

    I = PRT
    68.5 = P * 0.06 * 0.751
    68.5 = 0.045P
    68.5 / 0.045 = P
    1,522 = P

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