After 2.5 years your investment account has earned $450 in interest. If the interest rate is 7.5% what was the principle on your account?

Nopileos asked Aug 15, 2022

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Nopileos asked Aug 15, 2022

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14 votes

Answer: $2400

Explanation:

Given

Interest earned is $450

The rate of interest is R=7.5%

Time period T=2.5 years

Simple Interest is given by

Substitute values

PeteH answered Aug 20, 2022

by PeteH

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