Missing value of principal when rate is 12% and time is 5 years will simple interest is $87
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rafikiedu08 3 weeks ago
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The principal is $145 .

Simple interest is the interest amount for a particular principal amount of money at rate of interest. The interest is calculated by multiplying the principal with the time and rate. The total amount after a certain time is given by the sum of the  principal and the interest for that time.

The formula for calculating the Interest on a Principal(P) , time(t) and rate(R).

Interest=P×R×t

Now let us consider the principal to be P.

Time(t)=5 years

Simple Interest(I)=$87

Rate(R)=12%=0.12

Now let us find the principle for the this interest using the above formula.

I=P×R×t

Substituting the given values we calculate the Principal(P).

Therefore the Principal for the simple interest of $87 for 5 years at rate of 12% is $145.

To learn more about principal and simple interest:

https://brainacademy.pro/question/25845758

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