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6.20: Simple Interest Equation to Find Interest Rate

Difficulty Level: Basic Created by: CK-12
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Vocabulary

Interest

Interest is a percentage of lent or borrowed money. Interest is calculated and accrued regularly at a specified rate.

Interest Rate

The interest rate is the percentage at which interest accrues.

Principal

The principal is the amount of the original loan or original deposit.

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Difficulty Level:
Basic
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Date Created:
Dec 02, 2015
Last Modified:
Sep 08, 2016
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MAT.ARI.761.1.L.1