Question

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

Answer 1

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