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19-12-2018
Mathematics

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f the principal is $350 and the interest rate is 3 percent, what is the simple interest earned in one year?

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19-12-2018

Answer:

$10.50

Step-by-step explanation:

The formula is Balance= Principle (starting amount) x Time x Interest rate. 350 x .03 x 1 is $10.50.

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