SOLUTION: What is the principal if the simple interest is 250.00 ,the annual interest rate is 5% and the time is 3 years?
Algebra.Com
Question 765806: What is the principal if the simple interest is 250.00 ,the annual interest rate is 5% and the time is 3 years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
What is the principal if the simple interest is 250.00 ,the annual interest rate is 5% and the time is 3 years?
--------
I = Prt
-----
250 = P*0.05*3
--------
250 = 0.15P
------
P = 250/0.15
----
P = $1666.67
====================
Cheers,
Stan H.
RELATED QUESTIONS
find the simple interest.
principal Rate Time
(answered by stanbon)
The simple interest I varies jointly with the principal p, and time t. If the simple... (answered by mananth)
A=P+P*r*t
where A is the Amount (total principal plus interest) required to repay the... (answered by Boreal)
what is the interest if the Principal is $720, the Rate is 5 1/4% and the Time is 3... (answered by Theo)
What is the principal:
Rate at 12%
Time is 2 months
Simple interest is... (answered by Theo)
If the simple interest of a loan is $2,640 after 6 years at an annual interest rate of... (answered by fractalier)
use i=prt to solve. find the interest rate,the principal=4000 the rate is 0.09 and the... (answered by Fombitz)
Find the rate if the principal is $900, the time is 3 years, and the interest is... (answered by stanbon)
If money is invested for a short period of time, simple interest is paid using the... (answered by jim_thompson5910)