When money is invested at 4.5 % simple interest for 4 months, the interest is $75. Find the principal

Answer: $555.6

Step-by-step explanation:

Simple interest = Principal x Rate x Time

Principal = Interest/Rate x Time

From the question, interest = $75

Rate = 4.5%; 4.5/100 = 0.045

Time = 4 months

Slot the values into the formula:

P = 75/0.045 * 4/12

= 75/0.135

P = $555.6