SOLUTION: this is about simple interest.. question earning 4% simple interest at the end of 4yrs total of 15,660. how much was originally invested? I tried dividing 15660 into 4% came up
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Question 427166: this is about simple interest.. question earning 4% simple interest at the end of 4yrs total of 15,660. how much was originally invested? I tried dividing 15660 into 4% came up with 626.40 then multipled that by 4 for the 4yrs.. ended up with 2505.60 then subtracted that from the 15660. do not know if this is correct.. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! I= P*R*N
I = Interest
P = Principal
R= rate of interest
N= Time , number of years. 4
15660 = Principal $ * 0.04 * 4
Principal $ = 15660 / ( 0.04 * 4 )
Principal $ = $97,875.00
