Interest = $45.58, time = 1 year, rate = 2.25%. Find the principal. Round to the nearest hundredth place

asked Mar 14, 2022 6.8k views

1 vote

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3 votes

Answer:

$2,025.78

Explanation:

I = Prt ⇒ P =
(I)/(rt)

2.25% = 0.0225

P = 45.58 ÷ ( 0.0225 × 1 ) ≈ $2,025.78

Piotr Rodak answered Mar 17, 2022

4.7k points

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