Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%

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Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%

Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%. Find (a) the principal at the beginning of the 180 days and (b) the amount in the account at the end of 180 days.

(a) The principal was $_______

math algebra

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Answer 1

Answer #1

Solution A)

Given: Simple Interest = $450, rate = 2% and time = 180 days = (180/365) years

A)S. I. = ( P * r * t)/100

P* 2 * 3 450= ? 100

P = $45625

B) Amount = Principal + S.I.

Amount = $46075

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Answer 2

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Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%

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Suppose, instead, Justin deposits 100 into a savings account, paying nominal interest rate i (2) ...

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Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%

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Over a period of 180 days, Shawna Johnson earned $450 interest in a retirement account paying interest at a rate of 2%