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4. A person borrows money from a friend and they decide
to use a simple interest formula. I = P.R.I where I is
the interest in dollars, P is the principle (original money
loaned) in dollars, R is the interest rate, and T is the time
in years. If the person paid $768 in interest for a loan
over 5 years at a rate of 4%, how much money did they
original horrow?

Respuesta :

sqdancefan

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Answer:

  $3,840

Step-by-step explanation:

The interest formula can be rearranged to find the principal amount.

  I = Prt

  P = I/(rt) = $768/(.04·5)

  P = $3,840

They originally borrowed $3,840.

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