SOLUTION: fina the principal when the interest is $432, the rate is 6.25 and the time is 3 yrs,

SOLUTION: fina the principal when the interest is $432, the rate is 6.25 and the time is 3 yrs,

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Question 95251: fina the principal when the interest is $432, the rate is 6.25 and the time is 3 yrs,
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
fina the principal when the interest is $432, the rate is 6.25 and the time is 3 yrs,
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Assuming the investment was made at simple interest
I = Prt
432 = P*0.0625*3
P = 432/0.1875
P = $2304
Cheers,
Stan H.
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