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Use the Formula i=Prti = P r t To Reach a Solution for the Following Problem

Question 30

Multiple Choice

Use the formula i=Prti = P r t to reach a solution for the following problem. How much principal, invested at 18% annual interest for 6 years, is needed to earn $4,039.20?


A) P = $3,740
B) P = $3,810
C) P = $3,730
D) P = $3,700
E) none of these

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