SOLUTION: what is the principal which would amount to $6900 in 3 years at 5% simple interest per annum?

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Question 655587: what is the principal which would amount to $6900 in 3 years at 5% simple interest per annum?
Answer by fcabanski(1391) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt is the formula for simple interest. And the formula for the accumulated amount is A = P+I (the original principal plus the interest accumulated.)


6900-I=x and I = x*.05*3


I = .15x so 6900 - .15x = x


6900 = 1.15x


6900/1.15 = x = 6000