contestada

You invest $24,000 at a simple interest rate of 12% for 9 years, and your
investment grows by $25,920. What is the principal?

Respuesta :

MrRoyal

Answer:

The principal is $2400

Step-by-step explanation:

Given

[tex]P = \$24000[/tex]

[tex]t = 9[/tex]

[tex]r =12\%[/tex]

[tex]I = \$25920[/tex]

Required

The principal amount

The principal amount is the amount invested.

From the question, we understand that $24000 was invested.

Hence, the principal is $24000

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