In 6 years, a bond that paid 5.5% earned $594 interest. What was the principal of the bond?

Mathematics

1 answer:

Ilia_Sergeevich [38]2 years ago

5 0

Answer:

Principal = $1800

Step-by-step explanation:

$594 = \frac{p \times 5.5 \times 6}{100}$

$\frac{594 \times 100}{5.5 \times 6}$

59400/33 = p

1800 = p

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