I'm confused help. Jonah earned $150.36 ininterest on an account thatearns 1.4% simple interest. IfJonah opened the account 12years ago, what was theprincipal amount?A) $850the court houseB) $868the movie theaterC) $880the art museumD) $895the mallE) $902the aquarium

Name: I'm confused help. Jonah earned $150.36 ininterest on an account thate
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Description: I'm confused help. Jonah earned $150.36 ininterest on an account thatearns 1.4% simple interest. IfJonah opened the account 12years ago, what was theprincipal amount?A) $850the court houseB) $868the movie theaterC) $880the art museumD) $895the mallE)

Simple interest = $150.36 rate of interest(r) = 1.4% Time(t) = 12years Principal amount (P) = ???…

Answered: Jonah earned $150.36 in interest on an…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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I'm confused help.

Jonah earned $150.36 in
interest on an account that
earns 1.4% simple interest. If
Jonah opened the account 12
years ago, what was the
principal amount?
A) $850
the court house
B) $868
the movie theater
C) $880
the art museum
D) $895
the mall
E) $902
the aquarium

Expert Solution

Step 1

Simple interest = $150.36
rate of interest(r) = 1.4%
Time(t) = 12years
Principal amount (P) = ???

Formulae for Simple interest is,

S.I = Prt

P = 150.36/(.014×12)

P= $895

Therefore option D is correct, Answer.....

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