document.write( "Question 76235: The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I = Prt. Find the simple interest on a principal of $6000 at 3% for 2 years. (Hint: 3% = 0.03) \n" ); document.write( "
Algebra.Com's Answer #54696 by chitra(359)\"\" \"About 
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The simple interest I on a principal of P dollars at interest rate r for time t, in years, is given by I = Prt. Find the simple interest on a principal of $6000 at 3% for 2 years. (Hint: 3% = 0.03)\r
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\n" ); document.write( "\n" ); document.write( "The formula of simple interest is given by: I = Prt \r
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\n" ); document.write( "\n" ); document.write( "where P = principal, r= rate, t = time\r
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\n" ); document.write( "\n" ); document.write( "Here, according to the given data, \r
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\n" ); document.write( "\n" ); document.write( "we find that: P = $ 6,000 r = 0.03 and t = 2 yrs\r
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\n" ); document.write( "\n" ); document.write( "Hence, substituting in the given formula, we find that I = \r
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\n" ); document.write( "\n" ); document.write( "I = 6000 * 0.03 * 2 \r
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\n" ); document.write( "\n" ); document.write( "I = 360 \r
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\n" ); document.write( "\n" ); document.write( "Hence, the simple interest is $360 \r
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\n" ); document.write( "\n" ); document.write( "Hence, the solution. \r
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