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30 December, 17:08

Interest earned: $45

Principle:?

Interest rate: 3%

Time: 2 years

What is the principle?

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Answers (1)
  1. 30 December, 17:24
    0
    Assuming simple interest,

    45 = P * 0.03 * 2

    P = 45 / 0.06 = $750
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