/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 130 In the following exercises, solv... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 3: Q. 130 (page 334)

In the following exercises, solve.

In 25years, a bond that paid 4.75%earned $2,375 interest.
What was the principal of the bond?

Short Answer

Expert verified

The principal of the bond was $2,000

Step by step solution

01

Step 1. Given Information

Interest, I=2,375

Rate, r=4.75%

Time, t=25 years

02

Step 2. Simple interest formula

Simple interest,I=Prt

Substitute the known values,

2,375=P(0.0475)(25)2,375=1.1875P

03

Step 3. Find P 

Solve the equation for P,

P=2,3751.1875=2,000

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Veronica is planning to make muffins from a mix. The package says each muffin will be230calories and 60calories will be from fat. What percent of the total calories is from fat?

In 5 years, Gloria鈥檚 bank account earned $2400 interest at 5%. How much had she deposited in the account?

Find three consecutive odd integers whose sum is 171.

Find the percent decrease. (Round to the nearest tenth of a percent.)

The population of North Dakota was about 672,000in2010. The population is projected to be about 630,000in2020.

One angle of a right triangle measures 51 degrees. What is the measure of the other small angle?
See all solutions

Recommended explanations on Math Textbooks

Pure Maths

Read Explanation

Calculus

Read Explanation

Theoretical and Mathematical Physics

Read Explanation

Applied Mathematics

Read Explanation

Discrete Mathematics

Read Explanation

Decision Maths

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.