Answer:
we conclude that:

Step-by-step explanation:
Given
The expression is
To determine
Simplify the expression
Simplifying the expression

Apply the exponent rule: 

Subtract the numbers: 

Therefore, we conclude that:

I = p * r * t
264 = p * .06 * 2
264 = .12p
Divide both sides by .12
p = $2200