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What is the simple interest that is missing from the table? Use the formula mc011-1.jpg. I ? p $5,630 r 4% t 2 years $450.00 $450.40 $45,000.40 $45,040.00
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To find the simple interest the formula is I=prt I ? P principle 5630 R interest rate 0.04 T time 2 years So I=5,630×0.04×2=450.4 Therefore, simple interest is $450.40
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