John invested P120,000 in a bank which earned P37,800 after 3 1/2 years. Who is the investor? At what simple interest rate was the money invested

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...
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John invested P120,000 in a bank which earned P37,800 after 3 1/2 years. Who is the investor? At what simple interest rate was the money invested
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