Question

Please help !!!!!!!!!

Answer 1

Katherine invested $12,000

Explanation:

Use formula

`I=P\cdot r\cdot t,`

where

I = interest,

P = principal,

r = rate (as decimal),

t = time (in years).

In your case,

t = 1 year,

r = 0.06 (or 6%)

P + I =$12,720, thus

`12,720-P=P\cdot 0.06\cdot 1\\ \\12,720-P=0.06P\\ \\12,720=P+0.06P\\ \\1.06P=12,720\\ \\P=(12,720)/(1.06)\\ \\P=\$12,000\\ \\I=\$12,720-\$12,000=\$720`