SOLUTION: What is the principal amount if the amount of interest at the end of 2 ½ year is 4,500.00 for a simple interest of 6% per annum?

SOLUTION: What is the principal amount if the amount of interest at the end of 2 ½ year is 4,500.00 for a simple interest of 6% per annum?

Algebra.Com

Question 1184490: What is the principal amount if the amount of interest at the end of 2 ½ year is 4,500.00 for a simple interest of 6% per annum?

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
I=prt
4500=p*0.06*2.5=0.15p
p=4500/0.15=$30000.
RELATED QUESTIONS
What is the principal amount if the amount of interest at the end of 2 ½ year is 4, 500... (answered by ikleyn)

Find the accumulated amount A if the principal P = $2,000 is invested at the interest... (answered by lynnlo)

What is the accumulated amount A if the principal P = $11,000 is invested at the interest (answered by ewatrrr)

If $500 is invested at a rate of 4% for 3 years, find the simple interest earned and the... (answered by math_helper)

What is the account balance at the end of a year earning simple interest? My initial... (answered by mathie123)

the formula for the simple interest earned on an investment is I=prt, where I is the... (answered by rfer)

A certain amount is invested for one year at 8% interest.The total principal and interest (answered by rfer)

Find the simple interest on a $1000 investment made for 2 years at an interest rate of... (answered by ewatrrr)

Recall that the formula for compounding interest is A = P(1+ r)t where A is the total... (answered by jim_thompson5910)