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17 August, 14:30

Jack earned $972 in 6 years on an investment at a 3% annual simple interest rate. How much was Jack's investment?

$174.96

$486

$1944

$5400

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  1. 17 August, 16:10
    0
    5400.

    I = Prt

    972 = P (0.03) (6)

    972 = P (0.18)

    P = 972 / (0.18)

    P = 5400
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