Question
In the following exercises, solve the problem using the simple interest formula.Find the principal invested if $\$ 15,222.57$ interest was earned in 6 years at an interest rate of10.28$\% .$
Step 1
Step 1: First, we need to understand the simple interest formula, which is I = PRT, where I is the interest, P is the principal, R is the rate of interest, and T is the time. Show more…
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