SOLUTION: What is the principal amount if it earns $30/month at an interest rate of 2%

SOLUTION: What is the principal amount if it earns $30/month at an interest rate of 2%

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Question 706427: What is the principal amount if it earns $30/month at an interest rate of 2%
Answer by filboi(35) (Show Source): You can put this solution on YOUR website!
An interest rate of 2% is equal to 2%/12 per month.
Principal x (0.02)/12 = 30
Principal = $18,000
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