Match the information about interest earned with the principal amount invested. Remember the equation for calculating simple interest is .

Match Term Definition
$45 over 3 years at an interest rate of 3% A)400
$48 over 4 years at an interest rate of 3% B)500
$42 over 3 years at an interest rate of 2% C)700
$30 over 1 year at an interest rate of 5% D)600

Question

Match the information about interest earned with the principal amount invested. Remember the equation for calculating simple interest is .

Match	Term	Definition
	$45 over 3 years at an interest rate of 3%  A)400
	$48 over 4 years at an interest rate of 3% 	B)500 
	$42 over 3 years at an interest rate of 2% 	C)700 
	$30 over 1 year at an interest rate of 5%    D)600

anonymous · Answer

I = PRT

1. 45 = P(.03)(3)
     45 = .09P
      45/.09 = P
      500 = P

2. 48 = P(.03)(4)
    48 = .12P
    48/.12 = P
      400 = P

3. 42 = P(.02)(3)
    42 = .06P
    42/.06 = P
     700 = P

4. 30 = P(.05)(1)
     30 = .05P
     30/.05 = P
     600 = P