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PLS HELP | Shen invested in a savings bond for 4 years and was paid simple interest at an annual rate of 6%. The total interest that he earned was $2160. How much did he invest?

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altavistard

Answer:

Shen invested $9000.

Step-by-step explanation:

The simple interest formula is i = prt, where p is the principal amuont, r is the annual interest rate as a decimal fraction and t is the time in years.

Here, $2160 = P*0.06*(4 yrs), so:

         $2160

P = ----------------- = $9000

            0.24

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