Algebraically manipulating the formula I = Prt, find the principal (PV) deposited in a savings account which earned $11,000 in interest at a simple interest rate of 9.5% for 15 years (to the nearest whole cent).
$7,312.07
$8,083.92
$7,719.30
$6,987.44
None of these choices are correct.
Answers
Answered by
0
Answer:
→ None of these choices are correct.
Step-by-step explanation:
I = Prt
A= P + I = P + Prt = P( 1+rt)
P = A / ( 1+rt) = 11000/2.325 = $4731.18
→ None of these choices are correct.
Answered by
3
Answer:
7,719.30 (teacher told me the answr)
Step-by-step explanation:
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