Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Get detailed and precise answers to your questions from a dedicated community of experts on our Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

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 :

adioabiola

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

We appreciate your time. Please come back anytime for the latest information and answers to your questions. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.