Interest (Simple) - Change in Principal from Change in Time (All Values, Absolute)

Question

Find the new principal in this simple interest situation.

An investment of $1,200 earns $336 in simple interest over 4 years at a rate of 7%. What principal would be needed to earn the same interest if the time were 1 year and the rate was unchanged?

Accepted Answer

$4,800

Answer

$5,459

Answer

$300

Answer

$1,200

Interest (Simple) - Change in Principal from Change in Time (All Values, Absolute)

Practice:

Interest (Simple) - Change in Principal from Change in Time (All Values, Absolute)