What is the principal, if the interest earned is $22, the simple annual interest rate is 2%, and the time is one year?
1 answer:
Answer:
$1,100
Step-by-step explanation:
first find the principal first Multiply the rate 0.02 by the time 1 year this gives us 0.02 then divide the interest ($22) by 0.02 then you get $1,100.
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Hello from MrBillDoesMath!
Answer:
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Step-by-step explanation:
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Plug in the values.
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