Question

Solve the formula I=Prt to find the principal, P, when I=$121.10, r=2.8%, and t=5 years.

Answer 1

P = $865

Explanation:

I=Prt

when I=$121.10,

r=2.8%,

t=5 years.

I=Prt

find: P

plugin values into the equation:

121.10 = P (0.028) 5

P = 121.10

0.028 (5)

P = $865