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Solve the Problem. -The Amount of Simple Interest I Generated by Principal P

Question 180

Multiple Choice

Solve the problem.
-The amount of simple interest I generated by principal P, annual interest rate r, and time t in years is given by I = Prt. Find the interest if t = 7 years, P = $100, and r = 0.04.


A) $28.00
B) $1.12
C) $0.70
D) $112.00

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