Question

What is the principal, if the interest earned is $22, the simple annual interest rate is 2%, and the time is one year?

Answer 1

$1,100

Explanation:

I got it right

Answer 2

$1,100

Explanation:

first find the principal first Multiply the rate 0.02 by the time 1 year this gives us 0.02 then divide the interest ($22) by 0.02 then you get $1,100.

Hope that helped!