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13 December, 10:48

What is the simple interest for a principal of $650 invested at a rate of 9% for 5 years?

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  1. 13 December, 10:59
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    Answer: 292.50 dollars

    Work Shown:

    P = 650 is the the principal.

    r = 0.09 is the interest rate in decimal form.

    t = 5 is the number of years.

    i = P*r*t

    i = 650*0.09*5

    i = 292.50 is the simple interest.
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