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Sagot :
Answer:
$1,923.08.
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 6%/100 = 0.06 per year.
Solving our equation:
P = 2500 / ( 1 + (0.06 × 5)) = 1923.0769230769
P = $1,923.08
The principal investment required to get a total amount, principal plus interest, of $2,500.00 from simple interest at a rate of 6% per year for 5 years is $1,923.08.
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