Question

How much principal must be deposited to earn $900 simple interest in 5 years at a rate of
6%? Round to the nearest cent. (SHOW WORK & ADD UNITS TO ANSWER) 3.3 Ex. 5
Interest= $900
Principal=?
Rate= 6% as a decimal
Time= 5 years
(Use I/RT=P formula)

Answer 1

Answer:

Is that your paper going on,

although

Step-by-step explanation:

DIRECTLY PUT THE UNITS INTO THE FORMULAE,

Like, I/RT = P

900/0.06*5 = P

9000/3 = P

P = 3000