Find Principal when Time = 5 years, Interest - $ 500; Rate = 5%

asked Oct 6, 2022 8.4k views

21 votes

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5 votes

Answer:

P = $2,000

Explanation:

Interest = Principal x Rate x Time

500 = P(.05)(5)

500 = .25P

P = 500/.25

P = 2000

JoeSlav answered Oct 11, 2022

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