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Interest = principal rate.
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simple interest = principal x rate x time
does principal * rate equal interest
Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an…
Principal is equal to rate divided by interest times time.
no rate given? I = PRT P = I/(rt)
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Is ordinary interest required by all banks.
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