Question

You put 230 dollars in an account. The annual interest is 12% in 3 years. What is the principal you put into this account? PLEASE GIVE A FULL EXPLANATION!! I NEED HELPP

Answer 1

ANSWER:

$230

The principal you placed into the account is $230.

EXPLANATION:

The principal you placed into the account is $230. This as the original amount which was placed into the account is $230 as stated at the beginning of the problem. The principal is the original amount which is placed into the account, therefore the answer must be $230.