Question

Interest = $45.60, Rate = 2%, Time = 4 years What’s the principal to the nearest cent

Answer 1

Answer:

$570

Step-by-step explanation:

I=PRT/100

I=$45.60,P=?,R=2%,T=4years

make P the subject of the formula

P=100I/RT

P=100x45.60/2x4

P=4560/8

P=$570