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3 In business there is a formula used to find simple interest on an account...

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Basic Math

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3 In business there is a formula used to find simple interest on an account The formula is rate x time x principle interest The rate is the percentage rate usually per year and time is in years with principle being the amount of money put into the account originally The interest will be the money earned on the account Determine whether the following statement is true or false Rate and interest are an inverse relationship assuming the remaining variables are kept constant O True O False

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