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Sagot :
Answer:
$1,065,597.22
Step-by-step explanation:
Simple interest = Principal * Rate * Time/100
10,510 = P * 12 * 30/365*100
10,510*365*100 = 360P
383,615,000 = 360P
Note that the time was converted to years by dividing by 365
P = 383,615,000/360
P = $1,065,597.22
Hence the principal is $1,065,597.22
The principal amount is $1065597.222 and this can be determined by using the formula of simple interest and the given data.
Given :
- Final amount = $10510
- Interest rate = 12%
- Time period = 30 days
The following steps can be used in order to determine the principal amount:
Step 1 - The simple interest formula can be used in order to determine the principal amount.
Step 2 - The formula of simple interest is given below:
[tex]\rm I = P\times R \times T[/tex]
where P is the principal amount, I is the simple interest, R is the interest rate and T is the time period.
Step 3 - Now, substitute the values of the known terms in the above formula.
[tex]\rm 10510 = P\times 0.12 \times \dfrac{30}{365}[/tex]
Step 4 - Simplify the above expression.
P = $1065597.222
For more information, refer to the link given below:
https://brainly.com/question/2793278
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