MathyMcMathster MathyMcMathster

25-05-2021
Mathematics

contestada

I’m in need of help!!!

Vanessa invested $300 in an account for 10 years at 4% simple interest. What is the principal amount?

Respuesta :

alexi565 alexi565

25-05-2021

Answer:

$120

Step-by-step explanation:

r = R/100 = 4%/100 = 0.04 per year,

I = 300 × 0.04 × 10 = 120

I = $ 120.00

The simple interest accumulated

on a principal of $ 300.00

at a rate of 4% per year

for 10 years is $ 120.00.

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