Question

an investment earns 5% simple interest. what amount of principal is need to have $2500 after 4 years? round your answer to the nearest cent

Answer 1

2083.33

Explanation:

plug in equals = 2500/1+(0.05 x 4)

Is 2083.3 repeating

Round to the nearest cent is 2083.33

Answer 2

you would use the formula I=prt which means I=.05•2500•4 which equals 500 and that is your intrest