Answer:
The principal is $975.
Step-by-step explanation:
As per given question we have provided that :
- ➣ Interest = $195
- ➣ Rate = 4%
- ➣ Time = 5 years
Here's the required formula to find the Principal :
- ↝ I = Interest
- ↝ P = Principal
- ↝ R = Rate
- ↝ T = Time
Substituting all the given values in the formula to find the Principal :
Hence, the principal is $975.