Chapter 10.II, Problem 2RE

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Chapter
Section

### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# Compute the principal for the following loans. Use ordinary interest when time is stated in days.Principal Rate (%) Time Interest________________________________________________________________ 9 1 1 2 years $675 To determine To calculate: The amount of principal invested where rate of interest is 9%, time-period is 112 years and interest amount is$675.

Explanation

Given Information:

Rate of interest is 9%, time-period is 112 years and interest amount is $675. Formula used: The formula to compute the principal amount is, P=IRT Where, P is the principal amount, I is the amount of interest, R is the rate of interest and T is the time period. Calculation: Consider that rate of interest is 9%, time-period is 112=32 years and amount of interest is$675.

As, P=IRT

Compute the principal amount by substituting \$675 for amount of interest, 0

### Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

#### The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

#### 1. Compute .

Mathematical Applications for the Management, Life, and Social Sciences

#### Find the mean for the following set of scores: 2, 7, 9, 4, 5, 3, 0, 6

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

#### In Exercises 516, evaluate the given quantity. log1/212

Finite Mathematics and Applied Calculus (MindTap Course List)

#### The range of f(x) = tan1 x is: a) [2,2] b) (2,2) c) (0,2) d) all reals

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th