Question

Calculate the principal if the maturity value is $4,500 and the simple interest is $350.

Answer 1

Answer:

The principal is $4,150.

Step-by-step explanation:

We have to find the principal if the maturity value is $4,500 and the simple interest is $350.

As we know that the formula for calculating the final amount or maturity amount is given by;

Amount = Principal + Interest

Here, Simple interest = $350

Amount or Maturity value = $4,500

So, the Principal = Amount - Interest

Principal = $4,500 - $350

               = $4,150

Hence, the principal if the maturity value is $4,500 and the simple interest is $350 is $4150.