Respuesta :

Lanuel

Answer:

The principal amount is $10160

Step-by-step explanation:

Given; Simple interest, I = 7620

Rate, R = 6.25

Time, T = 12

Principal, P =?

The formula for simple interest, I is;

[tex]I = \frac{PRT}{100}[/tex]

Making P the subject of formula;

[tex]P = \frac{I100}{RT}[/tex]

[tex]P = \frac{7620 *100}{6.25*12}[/tex]

[tex]P = \frac{762000}{75}\\P = 10160[/tex]

Therefore, the principal amount is $10160

ilikeforknife17

Answer:

10000

Step-by-step explanation:

If an amount of money, P, called the principal, is invested for a period of t years at an annual interest rate r, the amount of simple interest, I, earned is given by

I=PrtwhereIPrt=interest=principal=rate=time

The following information is given.

Irt=$7,620=0.0635=12 years

Substituting the given information into the simple interest formula and solving for P gives

7,6207,620=(P)(0.0635)(12)=0.762P

Dividing both sides by 0.762, we have

P=7,6200.762=10,000

Thus, the principal amount of the bond was $10,000.

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