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Find the principal(P) if:

Interest(I) = $884

Time(t) = 4 years

Rate(r) = 8.5%

Start with your formula and substitute the variables for numbers, solve. You can use either way below.
A.
$ 26
B.
$ 260
C.
$26,000
D.
$2600

Respuesta :

Based on the information given, it van be noted that the value of the principal is D. $2600.

How to calculate the principal.

The following are given in the question:

Interest(I) = $884

Time(t) = 4 years

Rate(r) = 8.5%

Interest = PRT/100

884 = (P × 8.5 × 4)/100

88400 = 34P

P = 88400/34

P = 2600

Therefore, the principal is $2600.

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