Back to 2.2 Use a Problem Solving Strategy

2.2 Exercise 120

Avg difficulty 2.5

Solve.

In 10 years, a bank account that paid 5.25% simple interest earned $18,375 interest. What was the principal of the account?

OpenStax Intermediate Algebra 2e, 2.2 Use a Problem Solving Strategy, exercise 120

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Adapted from Intermediate Algebra 2e © 2020 Rice University. Licensed under CC BY 4.0. Source: Intermediate Algebra 2e. Imported at revision 77a933c.