Find the principal. SHOW ALL WORK to receive FULL CREDIT.
1 answer:
Answer:
300
Step-by-step explanation:
I = interest earned
P = Principal
R = interest rate
T = Months
plug in all the numbers which would be...
45 = P x 0.03 x 5 *Note that 0.03 is 3% in decimal form
0.03 x 5 = 0.15
45 = P x 0.15
to make the P by itself you have to divide 0.15 to both sides
45/0.15 = 300
P = 300
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