SOLUTION: use the formula I=prt to find the principal. If the interest (I) earned on $60 for 1 year(t) on a 12% (r) investment.

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Question 112945: use the formula I=prt to find the principal.
If the interest (I) earned on $60 for 1 year(t) on a 12% (r) investment.
Answer by SHUgrad05(58) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
60=p(.12)(1)
60/.12=p
500=p