SOLUTION: a bank deposit paying simple interest at the rate of 5%/year grew to a sum of $3100 in 10 months. find the principal.

SOLUTION: a bank deposit paying simple interest at the rate of 5%/year grew to a sum of $3100 in 10 months. find the principal.

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Question 625155: a bank deposit paying simple interest at the rate of 5%/year grew to a sum of $3100 in 10 months. find the principal.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!

P=3100*1.05*10/12
P=$2712.50
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