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28 March, 13:26

How much principle must be deposited to earn $1000 simple interest in 2 years at a rate of 1.3%? Round to the nearest cent. (use the simple interest formula and solve for P)

A:$35,405.21

B:$35,021.03

C:$38,461.54

D:$32,324.52

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  1. 28 March, 16:21
    0
    C.

    $38,461.54 must be deposited to earn $1000 in 2 years.
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