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How much principal must be deposited to earn $744 simple interest in 3 years at an rate of 5.4%?
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How much principal must be deposited to earn $744 simple interest in 3 years at an rate of 5.4%?

User LoahL
by
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2 Answers

0 votes

Answer:

Below

Explanation:

Amount of interest =Principal * interest rate * time

(interest is .054 in decimal )

744 = Principal * .054 * 3 so Principal = 4592.59 dollars

User Shoaib Anwar
by
7.7k points
3 votes

Answer:59$

Explanation:

User Twelfth
by
6.7k points
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