Question

Interest = $72.30
Principle = ?
Rate = 5%
Time = 3 years

Answer 1

Explanation:

Answer:

P = $ 482.00

Equation:

P = I / rt

Calculation:

First, converting R percent to r a decimal

r = R/100 = 5%/100 = 0.05 per year,

then, solving our equation

P = 72.3 / ( 0.05 × 3 ) = 482

P = $ 482.00

The principal required to

accumulate interest of $ 72.30

on a rate of 5% per year for 3 years is $ 482.00.

hope it helps :)