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tensa zangetsu [6.8K]
3 years ago
15

In 25 years, a bond that paid 4.75% simple interest earned $4,750 interest. What was the principal of the bond in dollars?

Mathematics
1 answer:
LenKa [72]3 years ago
6 0

Answer:

<h3> $ 4000</h3>

Step-by-step explanation:

Given,

Rate ( R ) = 4.75 %

Time ( T ) = 25 years

Simple Interest ( I ) = $ 4,750

Principal ( P ) = ?

<u>Finding </u><u>the </u><u>principal </u>

We know that,

\boxed{ \sf{principal =  \frac{interest \:  \times 100}{ \: time \:  \times  \: rate} }}

plug the values

⇒\sf{ \frac{4750 \times 100}{4.75 \times 25} }

Calculate

⇒\sf{\frac{475000}{118.75} }

⇒$ \sf{4000}

Hope I helped!

Best regards!!

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