<PRE><B>Question 676298</B>
Henry opened a savings account. Four years later, he had earned a total of $600 in simple interest. 
If he made no additional deposits, and the annual interest rate was 5%, what was the initial principal?
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I = P*r*t
600 = P*0.05*4
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600 = P*(5/25)
P = 600/0.2
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P = $3000
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Cheers,
Stan H.
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