An investment earns 11% simple interest. What amount of principal is needed to have $4500 after 6 years? Round your answer to th
e nearest cent.
1 answer:
Answer:
Step-by-step explanation:
Formula =P×R×T=I
P×11/100×6=4500
66/100p=4500
100/66×66/100=4500×100/66
P=6818.1818.......
=6818.18
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