crabagail1214 crabagail1214

03-05-2020
Mathematics

contestada

Melissa notes that her savings account earned $54.93 in nine months. If the
interest for her account is 4.5%, what was her principal?

Respuesta :

mysellyqueen56 mysellyqueen56

03-05-2020

Answer:

$135.63

Step-by-step explanation:

first and foremost, the formula for interest is I = Prt. P is the principal, r is the rate, and t is the time.

so plug in the numbers you have. Always convert the rate to a decimal. The rate would be 0.0.45. Plug in 54.93 for the I and plug in 9 for the time. It would look like this:

54.93 = P(0.045)(9) --> 54.93 = 0.405P --> P = 135.63

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