document.write( "Question 1028292: Hi I'm finding it hard to convert decimals. \r
\n" ); document.write( "\n" ); document.write( "After 4 years of investments, you earned $252.00 in simple interest. The annual rate of interest was 5.25%, how much was your initial investment principal?\r
\n" ); document.write( "\n" ); document.write( "I'm trying to use the formula I=PRT
\n" ); document.write( "252.00=P(5.25)(4)
\n" ); document.write( "252.00=P(21)
\n" ); document.write( "252/21=12\r
\n" ); document.write( "\n" ); document.write( "Is the initial principle $1200?
\n" ); document.write( "

Algebra.Com's Answer #643513 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
You made the mistake of representing the interest
\n" ); document.write( "as a % in the formula. You must express it as a decimal
\n" ); document.write( "5.25 % = \"+.0525+\"
\n" ); document.write( "\"+I+=+P%2Ar%2At+\"
\n" ); document.write( "\"+252+=+P%2A.0525%2A4+\"
\n" ); document.write( "\"+P+=+252+%2F+%28+.0525%2A4+%29+\"
\n" ); document.write( "\"+P+=+252+%2F+.21+\"
\n" ); document.write( "\"+P+=+1200+\"
\n" ); document.write( "The principle was $1,200
\n" ); document.write( "
\n" );