After 10 years, Hamid's account earned $300 in interest. If the interest rate (in decimal form) is 0.06, how much did Hamid init

Question

3 years ago

6

ially invest? Without substitution, solve the formula chosen in the previous step for the unknown variable in terms of the known variable(s). I=prt

1 answer:

tester [92] · Answer 1 · 2022-01-12T00:41:04+03:00

Answer:

Step-by-step explanation:

To solve the equation I=prt for p, divide by its coefficient, rt. That gives ...

p = I/(rt)

__

Now, to answer the question, you can substitute the given values for I, r, t and you have ...

p = $300/(0.06·10) = $500

Hamid initially invested $500.