Typically, I stands for interest.
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The variable "I" in algebra can represent any unknown quantity or value. It is commonly used to represent interest in mathematical equations related to finance or economics. However, "I" can refer to any unknown in an equation and its meaning depends on the specific context in which it is used.
A variable in algebra is an unknown quantity as for example in the term 5y the variable is y
The variable is the letter, the thing that can be changed.
You use variables to stand for numbers in algebra
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algebra involves equations with numbers a variables and your goal is to solve for the variable