Answered

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PrincipalInterest RateTime in MonthsSimple Interest?4%6$802

Sagot :

We have the following formula that correlates all those amounts:

[tex]I=\text{PRT}[/tex]

Where:

I = Simple Interest

P = Principal

R = Interest Rate

T = Time in Months

We already have 3 of those values. If we just substitute them in the formula, we're going to find the missing one.

Solving for 'P':

[tex]\begin{gathered} 80=P\times0.04\times6 \\ \Rightarrow P=\frac{80}{0.04\times6}=\frac{80}{0.24}=333.33 \end{gathered}[/tex]

With this, we have our result. The principal amount is $333.33

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