contestada

Jaylen financed a new stove. Jaylen was charged 8% simple interest for 2 years. Jaylen ended up
paying $272 in interest. What was Jaylen's principal?

Respuesta :

We will have the following:

[tex]A=P(1+rt)[/tex]

So:

[tex]\begin{gathered} 272=P(1+(0.08)(2))\Rightarrow P=\frac{272}{1+(0.08)(2)} \\ \\ \Rightarrow P=234.4827586...\Rightarrow P\approx234.5 \end{gathered}[/tex]

So, the principal was approximately $234.5.

Otras preguntas