True/False

An investment analyst is reviewing Susana's account, which earned simple interest on a principal of 36,000 at a rate of 6.5% for 3 years. True or False: In the simple interest formula I=PrtI = Prt used for this calculation, the variable II represents the 7,020 in interest earned, rather than the final total balance of the account.

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Updated 2026-05-25

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