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3 years ago

Matthew earned $75 in interest on

Mathematics

1 answer:

tensa zangetsu [6.8K]3 years ago

8 0

Answer:

Step-by-step explanation:

The formula for simple interest is

I = Prt,

where I is the interest earned,

P is the initial investment amount,

r is the interest rate in decimal form, and

t is the time in years. For us,

I = 75,

P = ?

r = .05

t = 1

Filling in what we were given:

75 = P(.05)(1) and

.05P = 75 so

P = 1500

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