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In 5 years, a bank account with a 4.5% annual interest rate earned $3,375 as simple interest. What was the principal amount of the account?

Respuesta :

Answer:

270

Step-by-step explanation:

Answer:

What was the principal amount of the account?

Capital____15000

Interest____3375

Final Value_18375

Step-by-step explanation:

Cf =  final value  

Ci =  initial value  

i = Interest rate  

n = period  

 

I = C·i·t  

 

Interest  3375

Interest 4,50%

n            5

Simple interest  

 

3375=CI*4,5%*2  

 

CI=15000  

 

Capital____15000

Interest____3375

Final Value_18375

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