I=610
R=9.1%
T=9yrs 6mnths
P=???
Kindly explain the answer. Thanx!
R=9.1%
T=9yrs 6mnths
P=???
Kindly explain the answer. Thanx!
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apparently simple interest, no compounding, so
I = PRT
610 = P(9.5 yr)(0.091)
divide 610 by 9.5 and then by 0.91
P = 705.61
I = PRT
610 = P(9.5 yr)(0.091)
divide 610 by 9.5 and then by 0.91
P = 705.61