Question

How much principal must be
invested to earn $36 in 1/2 a year
at an interest rate of 8%?

Answer 1

Answer
900$

let our principal be P
as SI = P x R x T / 100
=> P x 8 x 1 / 100 x 2 = 36
=> 0.04 x P = 36
=> P = 36 / 0.04
=> P = 900$

Answer 2

Simple interest: $70.56

Annually compounded Interest: $90.65

Step-by-step explanation: