The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 365 days in a year. P = $730, r = 4%, t = 2 years S (Round to the nearest cent as needed.) ...

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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The principal P is borrowed at a simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 365 days in a year.
P = $730, r = 4%, t = 2 years
(Round to the nearest cent as needed.)
Transcribed Image Text:The principal P is borrowed at a simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 365 days in a year. P = $730, r = 4%, t = 2 years (Round to the nearest cent as needed.)
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