the answer to this question is Q2.2= $5000but we just need to find how we get that answer for theses questions please help 2.2 (LG 2.2) What principal amount will yield $150 in interest at the end of threemonths when the interest rate is 1 percent simple interest per month?

Answer: Simple interest is the interest calculated only on the principal amount in all periods. It…

Answered: 2.2 (LG 2.2) What principal amount will…

2.2 (LG 2.2) What principal amount will yield $150 in interest at the end of three months when the interest rate is 1 percent simple interest per month?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter16: Interest, Rent, And Profit

Section: Chapter Questions

Problem 1WNG

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the answer to this question is Q2.2= $5000

but we just need to find how we get that answer for theses questions please help

2.2 (LG 2.2) What principal amount will yield $150 in interest at the end of three
months when the interest rate is 1 percent simple interest per month?

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