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Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years. What is the rate of return

Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years. What is the rate of return
asked 22.3k views
2 votes
Principal of $1700 is invested at 8.2% simple interest, paid annually, for 7 years.

What is the rate of return

asked
User Jibi Abraham
by
8.3k points

1 Answer

7 votes

I=PRT


I=1700(0.082)(7)


I=975.80


Return=Interest+Principal


Return=1700+975.80


Return=2675.80


answered
User Rebecca Scott
by
8.6k points
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