Determine the principal that will earn $294 in 5 years at 6% per annum simple intere
Question
Solution 1
Sure, to calculate the principal amount, we can use the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time in years.
In this case, we know the interest (I) is $294, the rate of interest (R) is 6% or 0.06 (in Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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Determine the principal that will earn $294 in 5 years at 6% per annum simple intere
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