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How much principle must be deposited to earn $1000 simple interest in 2 years at a rate of 1.3%? Round to the nearest cent. (use the simple interest formula and solve for P) A:$35,405.21 B:$35,021.03 C:$38,
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How much principle must be deposited to earn $1000 simple interest in 2 years at a rate of 1.3%? Round to the nearest cent. (use the simple interest formula and solve for P)

A:$35,405.21
B:$35,021.03
C:$38,461.54
D:$32,324.52

User Sianabanana
by
6.5k points

1 Answer

2 votes
C.
$38,461.54 must be deposited to earn $1000 in 2 years.
User Joao Victor
by
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