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Tpy6a [65]
2 years ago
13

Solve for the missing item in the following. (Do not round intermediate calculations. Round your answer to the nearest cent.)

Mathematics
1 answer:
iogann1982 [59]2 years ago
7 0

9514 1404 393

Answer:

  $1904.76

Step-by-step explanation:

The interest formula is ...

  I = Prt . . . . interest on principal P at rate r for t years

Solving for P, we find ...

  P = I/(rt) = 200/(0.07·1.5) = 200/0.105 ≈ 1904.76

The principal amount was $1904.76.

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