Finite Math Examples

Find the Simple Interest Received
, ,
Step 1
Simple interest is calculated on the original principal only. Accumulated interest from prior periods is not used in calculations for the following periods.
Step 2
Solve the equation for .
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Remove parentheses.
Multiply by .
Step 3
Substitute the known values into the formula.
Step 4
Simplify the right side.
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Simplify .
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Convert to a decimal.
Multiply .
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Multiply by .
Multiply by .
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