Answer:
3,125 i think sorry if this is incorrect....
Step-by-step explanation:
Answer:
P = $ 3,125.00
Equation:
P = I / rt
Calculation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year,
then, solving our equation
P = 500 / ( 0.08 × 2 ) = 3125
P = $ 3,125.00
The principal required to
accumulate interest of $ 500.00
on a rate of 8% per year for 2 years is $ 3,125.00.
