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Determine the missing value by using simple interest

P= R= 2% T=90days i=$12.50

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I = PRT

P = I/RT

P = 12.5/(0.02 * 0.25)

P = ?

P= 156.25

No. Calculate the numbers within the parentheses first.

P = 12.5/ 0.005
P = $2,500

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