Question 257337: Use the formula for simple interest, I = prt. Find p if I = $184.28, r = 4.1%, and t = 2 yr.
Answer by unlockmath(1688)   (Show Source):
You can put this solution on YOUR website! Hello,
Let's plug in the numbers into the formula:
I = prt. Find p if I = $184.28, r = 4.1%, and t = 2 yr
184.28=p(.041)(2) This can be rewritten as:
184.28=.082p Divide each side by .082 to give us:
p=2247.317 Round off to 2247.32
There we go the principal (amount) is:
$2247.32
Make sense?
RJ
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www.math-unlock.com
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