question archive If money is worth 10
If money is worth 10
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If money is worth 10.5%, how much shall be the principal if it earns an interest of P2120 in 2 years?
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The Principal is 10,095.24.
Step-by-step explanation
I= 2,120 t= 2 years r= 10.5%
P= I/rt
P = 2,120 / (0.105) (2)
= 2,120 / 0.21
= 10,095.24
