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Principal = ? rate = 3.25 time = 2 years interest = 63.05 how is this done?

Principal = ? rate = 3.25 time = 2 years interest = 63.05 how is this done?
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1 vote
Principal = ? rate = 3.25 time = 2 years interest = 63.05
how is this done?

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User Azaviruha
by
7.8k points

1 Answer

1 vote
in an simple interst is= I= P*r*t
Which is Interest= to principle times rate times time
63.05= P*3.25%*2
63.05= P* 0.0325 *2
63.05= P* 0.65
63.05/0.65= P
P= $97

answered
User Axiixc
by
7.7k points
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