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determine the simple interest applied to a principle over 20 years if the total interest paid equals the borrowed principal​

Respuesta :

sqdancefan

Answer:

  5%

Step-by-step explanation:

You want to find r when ...

  I = Prt

is equal to P and t=20.

  P = Pr·20 . . . . fill in the problem values

  1/20 = r = 0.05 = 5% . . . . divide by 20P

The simple interest rate is 5%.

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