Answer:
You deposit some money into a bank account paying 4% simple interest per year. You received $72 in interest after 3 years. How much the deposit (principal) was?
Result:
The principal was $600.
Explanation
Find principal by using the formula , where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example I = $72, i = 4% and t = 3 years, so
Step-by-step explanation:
