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6 February, 10:03

The formula for interest is I=Prt. Describe what these letters stand for. Is the formula the same if you are charged interest on a purchase, like when you earn money in a savings account? Once you have the numbers, how do you solve the formula for interest?

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  1. 6 February, 11:57
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    I stand for interest

    P stand for principle

    R stand for rate

    T stand for time

    There are the same.
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