Solve the Problem. -Simple Interest Is Calculated Using the Formula, Interest = Principal

question 63

Multiple Choice

Solve the problem.
-Simple interest is calculated using the formula, interest = principal · rate · time or i = prt. Jenny Brooks invested a certain amount of money saved for 1 year at a certain annual interest rate (simple interest) yielded $16.83 in
Interest. If we had added $34 to the principal and reduced the interest rate by 2 percentage point(s) , the interest
Would have been the same. Find the principal and the rate.

• A)$3.43, 442%
• B)$153.00, 11%
• C)$13.00, 11%
• D)$13.00, 9%

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