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The principal interest formula I = Prt can be used to find the interest earned on an initial amount of money, called the

principal, P, given an interest rate, r, and an amount of time over which interest is accrued, t. Solve I = Prt for P when
I = $5,480, r = .04 annual interest, and t 7 years. Round your answer to the nearest hundredth.

PLEASE HELP GUYS

1 Answer

6 votes

Answer:

1885.714

Explanation:

I = ptr

5280 = 7×0.4×p

p = 5280/2.8

p = 1885.7

User Bonswouar
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