Answered

Expand your knowledge base with the help of IDNLearn.com's extensive answer archive. Ask anything and receive well-informed answers from our community of experienced professionals.

Shen invested in a savings bond for 2 years and was paid simple interest at an annual rate of 2% the total interest that he earned was $28 how much did he invest 

Sagot :

Adioabiolaidn

Answer:

Principal = $700

Step-by-step explanation:

Simple interest = principal × rate × time

Simple interest = $28

Rate = 2% = 0.02

Time = 2 years

Principal = x

Simple interest = principal × rate × time

28 = x * 0.02 * 2

28 = 0.04x

x = 28/0.04

x = $700

Principal = x = $700

Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. IDNLearn.com is committed to providing accurate answers. Thanks for stopping by, and see you next time for more solutions.