SOLUTION: Hello, I need help with a simple interest financial question. Alex deposits a sum of money in an account that earns simple interest for a period of 3 years at an annual interest

Question 1085024: Hello, I need help with a simple interest financial question.
Alex deposits a sum of money in an account that earns simple interest for a period of 3 years at an annual interest rate of 6%. If alex earns $85 interest in this time, what must have been the principle that he invested?
Is the formula I=prt?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
yes

The principal was $472.22

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