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3 years ago

Paid $2652.00 in simple interest for 8 years at 17%. What is the principal?

Mathematics

2 answers:

kaheart [24]3 years ago

7 0

Answer:

$1950

Step-by-step explanation:

Formula for simple interest:

I = Prt,

where I = interest; P = principal; r = yearly interest rate; t = time in years

We know: I = $2652.00; t = 8 years; r = 17%

Plug in the values we know in the formula, and solve for P.

I = Prt

2652 = P(17%)(8)

P = 2652/(0.17 * 8)

P = 1950

Answer: $1950

Akimi4 [234]3 years ago

4 0

Answer:

450.84$ is the principal.

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