SOLUTION: Help would be much appreciated.
Write an equation for interest using the given data below. Use x for the unknown.
I = $95.00, P = ?, r = 5%, t = 4 years
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-> SOLUTION: Help would be much appreciated.
Write an equation for interest using the given data below. Use x for the unknown.
I = $95.00, P = ?, r = 5%, t = 4 years
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Question 857035: Help would be much appreciated.
Write an equation for interest using the given data below. Use x for the unknown.
I = $95.00, P = ?, r = 5%, t = 4 years Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! need to clarify: simple or compounded interest
I = $95.00, P = ?, r = 5%, t = 4 years
.05*P*4yr = $95
P = $95/(.05*4) = $475
CHECKING our answer***
$475 * .05*4 = $95
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