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how long must $1000 be invested at an annual interest rate of 3% to earn $300 in sinple interest?

Sagot :

[tex]\begin{gathered} S\mathrm{}I=\frac{Prt}{100} \\ 300=\frac{1000\times3\times t}{100} \\ t=\text{ 10 year} \end{gathered}[/tex]

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