Use the formula / = prt, to find

the principal (p), if the interest (O.

eamed was $60. for 1 year (0) on

à 12%) investment.

The principal of the investment is $ 500

Step-by-step explanation:

1. Let's review the information given to us to answer the question correctly:

Interests = $ 60

Interest rate = 12% annually = 0.12

Time = 1 year

2. Find the principal.

Let's use the formula given:

Interests = Principal * interest rate * time

Replacing with the real values, we have:

60 = Principal * 0.12 * 1

0.12 * Principal = 60

Principal = 60/0.12

Principal = 500