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OpenStudy (anonymous):
Use the simple interest formula, I = Prt, where I is the interest, P is the initial amount (the principal), and r is the interest rate Find the simple interest on an investment of $3000 at 3% for 2 years.
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OpenStudy (mathstudent55):
I = Prt Just plug into the formula: I = 3000 * 0.03 * 2 Now use a calculator.
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