hornishjr hornishjr

20-10-2014
Mathematics

Answered

use the simple interest formula.
p=? r=8%, t=3 months, i=$44 what is the answer for the principal?

Verified Answer :

Anonymous Anonymous

20-10-2014

I=PRT
8%/100=.08
$44=P(3)(.08)
14.67=P(.08)
P=183.33333333

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20-10-2014

I=PRT
where I=interest
P=principal (amount invested)
R=rate
T=time period
44=P8%3
44=P*0.24
P=44/0.24
P=183.333333 (repeating decimal)

Answer Link

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