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Popular Word Problems >

what sum would accumulate to \5,250 in 8 years at 9% simple interest

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Solution

Solution

Principal:3052.33
Solution steps
Translate the problem into an equation:5250=P(1+0.09⋅8)
Solve for P,5250=P(1+0.09⋅8):P=3052.33
Principal:3052.33

Popular Examples

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