A formula for calculating simple interest is I = Pr, were I is the interest earned in
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A formula for calculating simple interest is I = Pr, were I is the interest earned in dollars, P is the principal or original investment, and r is the fixed rate of interest. If the amount of interest earned is $2.25 and the interest rate is 3%, what is P?
F. $6.75
G. $7.50
H. $13.30
J. $67.50
K. $75.00
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