Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.
What is the rate of return

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17-03-2014
Mathematics

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Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.
What is the rate of return

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Edmund Edmund · Answer 1 · 2014-03-17T03:35:59+01:00

Edmund Edmund

17-03-2014

[tex]I=PRT[/tex]

[tex]I=1700(0.082)(7)[/tex]

[tex]I=975.80[/tex]

[tex]Return=Interest+Principal[/tex]

[tex]Return=1700+975.80[/tex]

[tex]Return=2675.80[/tex]

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Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.What is the rate of return

Respuesta :

Otras preguntas

Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.
What is the rate of return