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You have two different savings accounts. For account A, the interest earned after 18 months is $12. If the interest rate is 3.2% for account A, how much is the principal? Give the equation and solution you used to solve this problem. ** remember that time has to be in years.

Respuesta :

samuelonum1

Answer:

$312.5

Step-by-step explanation:

Step one

given data

time = 18 months= 1.5 years

Simple Interest= $12

rate= 3.2%

Required

The Principal P

Step two:

The expression for simple interest is

SI=PRT/100

substitute

12=P*3.2*1.2/100

cross multiply

12*100= 3.84P

divide both sides by 3.8

P=1200/3.84

P=$312.5

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