Use the Formula $i = P r t$ To Reach a Solution for the Following Problem

question 30

Multiple Choice

Use the formula $i = P r t$ to reach a solution for the following problem. How much principal, invested at 18% annual interest for 6 years, is needed to earn $4,039.20?

• A) P = $3,740
• B) P = $3,810
• C) P = $3,730
• D) P = $3,700
• E) none of these

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