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Sagot :
Given:
Amount earned = $219
Time = 8 years
Rate = 6.2 = 0.062
To find the principal amount earned, let's use the simple interest formula below:
[tex]\text{Amount = }P(1\text{ + rt)}[/tex]Where
r = rate
P = principal amount
t = time
Thus, we have:
[tex]219\text{ = P(1 + }0.062\ast8)[/tex][tex]219\text{ = P(}1.496)[/tex][tex]219\text{ = 1.496P}[/tex]Divide both sides by 1.496:
[tex]\begin{gathered} \frac{219}{1.496}=\frac{1.496P}{P} \\ \\ 146.39\text{ = P} \end{gathered}[/tex]Therefore the principal deposited is $146.39
ANSWER:
$146.39
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