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Is the formula for this SI=PxRxT/100? Find the principle of a loan at 4%if the simple interest after 6 years 6months is $1,248.Discuss how increasing

Is the formula for this SI=PxRxT/100?

Find the principle of a loan at 4%if the simple interest after 6 years 6months is $1,248.Discuss how increasing the term effects the principle amount based on the same interest payments of a simple interest loan

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