SOLUTION: How much was deposited if the simple interest earned after 120 days at 3.5% was $52.50?

SOLUTION: How much was deposited if the simple interest earned after 120 days at 3.5% was $52.50?

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Question 716966: How much was deposited if the simple interest earned after 120 days at 3.5% was $52.50?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
52.50=P*0.035*120/365
52.50/0.0115=P
P=$4565.22
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