The pertinent formula is i = p*r*t. Here, i = $6,300, r = 0.07 and t = 5 yrs.
We want to solve this for the principal, p. Since i = p*r*t, p = i / (rt). In this case, the principal was:
p = $6,300 / [0.07*5] = $6,300 / 0.35 = $18,000
Answer:
19
Step-by-step explanation:
8 x 4 = 32
32 + 6 = 38
38 / 2 = 19
true
15