Question
A deposit mature to 24200 after 3yeras at simple interest of7 percent per annum what is the principal amount of deposit
Answers
Henry
P = Po + Po*r*t.
P = $24,200, r = 0.07, t = 3 yrs.
Po = ?.
P = $24,200, r = 0.07, t = 3 yrs.
Po = ?.
Ankita
Answer is 20,000