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posted by CC Thursday, June 9, 2011 at 11:06pm.
Dr. Collins borrowed some money to buy new furniture for her office. She paid $720.00 simple interest on a 7.5-year loan at 16%. Find the principal.
I = prt 720 = p * 7.5 * 0.16 720 = 1.2p 720/1.2 = p 600 = p
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