Question

Solve for the missing item in the following. (Do not round int Principal Interest rate 7% Time 1112 years Simple interest $ 2
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Answer #1

Ans $ 1904.76

SIMPLE INTEREST = Principal * Rate * Time
200 = Principal * 7% * 1.5
200 = 0.105 * PV
PV = 200 / 0.105
PV = 1904.76
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