eviiiguillen eviiiguillen

02-12-2021
Mathematics

contestada

How much principal must be deposited in a 2-year simple interest
account that pays 1.75% Interest to earn $300 in interest?

Respuesta :

ewomazinoade ewomazinoade

15-12-2021

The principal that must be deposited is $8,571.43.

Simple interest is interest that is earned only on the principal deposited. The formula that can be used to determine the principal is:

Interest / (interest rate x time) = principal

Principal = $300 / (0.0175 x 2)

Principal = $300 / 0.035

Principal = $8,571.43

A similar question was answered here: https://brainly.com/question/20056498

Answer Link

Otras preguntas

I-10 links Tampa with Daytona Beach. True False

When using the skills for critical thinking, when should you put your plan into action? Question 5 options: 3 weeks Within 6-8 months of detailed planning. The

Answer: Step-by-step explanation: 4x - 1 = 3(x + 1) 4x - 1 = 3x + 3 [remove the parentheses by multiplying each term by 3] 4x = 3x + 4 [add 1 to both sides] 1x

NEED HELP PLEASE! Part B Which quotation from Anne Frank: The Diary of a Young Girl best supports the answer to Part A? A. . . . to be honest, I’m not exactly

Let f(x) = x^2 − 3x − 7. Find f(−3).

77.3003 to 3 significant digits

Hello may someone please help me with this!!! please use something to edit on it to do the calculation part, thank u so much, a Hint is that you have to multipl

Find out two hidden words of minimum 4 letters from :- ( innovative )

What is more important LOVE or MONEY? Can one be used to get the other?

The United States assisted a coup in Guatemala in 1954. What policy or theory was most likely behind this action? OA. destalinization B. self-determination Oc.