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Simple interest is calculated only on the principal amount, or on that portion of the principal amount which remains unpaid.
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Top Simple Interest Word Problems
Homework Help Questions
- Interest Rate: 1% each year
Starting Balance: $147
Time Passed: 6 years
How much interest has accrued if we are using simple interest?
What is the new total balance?
- What is the interest of $3000 with the interest rate of 20% for 100 days?
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