Can you please help with this interest problem

[From: ] [author: ] [Date: 12-05-10] [Hit: ]

Thanx!-apparently simple interest, no compounding,610 = P(9.5 yr)(0.divide 610 by 9.......

I=610
R=9.1%
T=9yrs 6mnths
P=???

Kindly explain the answer. Thanx!

apparently simple interest, no compounding, so
I = PRT
610 = P(9.5 yr)(0.091)

divide 610 by 9.5 and then by 0.91

P = 705.61

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