Find the missing value. \( \begin{array}{llll}\text { Principal } & \text { Rate } & \text { Time } & \text { Simple Interest } \\ 10 \% & 2 \text { years } & \$ 184\end{array} \)
Upstudy AI Solution
Answer
Solution

Sign in to Unlock Answers for Free!
A Learning Platform Trusted by Millions of Real Students and Teachers.

Answered by UpStudy AI and reviewed by a Professional Tutor
Mind Expander
To find the missing value (Principal) in the simple interest formula, we use the relationship: \[ \text{Simple Interest} = \text{Principal} \times \text{Rate} \times \text{Time} \] Given: - Rate = 10% = 0.10 - Time = 2 years - Simple Interest = $184 We rearrange the formula to solve for Principal: \[ \text{Principal} = \frac{\text{Simple Interest}}{\text{Rate} \times \text{Time}} \] Plugging in the values: \[ \text{Principal} = \frac{184}{0.10 \times 2} = \frac{184}{0.20} = 920 \] So the missing Principal is $920. Here you go, enjoyed solving that!