Answer:
416.67
Explanation:
P = $416.67
Equation:
P = A / (1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year.
Solving our equation:
P = 500 / ( 1 + (0.05 × 4)) = 416.66666666667
P = $416.67
The principal investment required to get a total amount, principal plus interest, of $500.00 from simple interest at a rate of 5% per year for 4 years is $416.67.
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you were missing the initial amount started with so i assumed you needed the Principal. sorry if it's wrong it's been a minute since i did this also i went online and used a Simple Interest Calculator bc i am lazy