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- https://math.libretexts.org/Courses/Barton_Community_College/Book%3A_Technical_Mathematics_(Turner)/04%3A_Business_Math/4.09%3A_Interestwhere I is the interest, P is the principal, r is the interest rate, and t is the time. The principal is P = $5000, the interest rate is r = 4.5% = 0.045 per year, and the time or duration of the loan...where I is the interest, P is the principal, r is the interest rate, and t is the time. The principal is P = $5000, the interest rate is r = 4.5% = 0.045 per year, and the time or duration of the loan is t = 6 months. The interest owed is I = $90, the interest rate is r = 5.4% = 0.054 per year, and the time or duration of the loan is t = 4 months. where A is the balance, P is the principal, r is the simple interest rate, and t is the duration of the loan or investment.
- https://math.libretexts.org/Courses/Honolulu_Community_College/Math_75X%3A_Introduction_to_Mathematical_Reasoning_(Kearns)/05%3A_Using_Algebra-_Writing_Solving_and_Manipulating_Some_Different_Types_of_Equations/5.03%3A_Interestwhere I is the interest, P is the principal, r is the interest rate, and t is the time. The principal is P = $5000, the interest rate is r = 4.5% = 0.045 per year, and the time or duration of the loan...where I is the interest, P is the principal, r is the interest rate, and t is the time. The principal is P = $5000, the interest rate is r = 4.5% = 0.045 per year, and the time or duration of the loan is t = 6 months. The interest owed is I = $90, the interest rate is r = 5.4% = 0.054 per year, and the time or duration of the loan is t = 4 months. where A is the balance, P is the principal, r is the simple interest rate, and t is the duration of the loan or investment.
