Question 1028292
You made the mistake of representing the interest
as a % in the formula. You must express it as a decimal
5.25 % = {{{ .0525 }}}
{{{ I = P*r*t }}}
{{{ 252 = P*.0525*4 }}}
{{{ P = 252 / ( .0525*4 ) }}}
{{{ P = 252 / .21 }}}
{{{ P = 1200 }}}
The principle was $1,200