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What Sum of Money Can you Invest for 300 Days at 5.5% to Earn $93.80?
Once again you can use the derived formula of I = Prt which will be P = I/rt. In this case, we have 300 days which will look like 300/365 in our formula, remember to move the 365 into the numerator to enable the formula to work. Get out your calculator and check your answer with the solution above.