A realtor sold 3 homes during her first month at an average house price of $120,000. During her second month, she sold 2 homes a
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Answer:
The principal for the account is $375.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
The interest earned after 1 year is $12 .If the interest rate is 3.2% for account (A).
This means, respectively, that
We want to find P.
The principal for the account is $375.