katerina lubov inherited some money and invested it at 4% simple interest. at the end of the year, the total…

katerina lubov inherited some money and invested it at 4% simple interest. at the end of the year, the total amount of her original principal and the interest was $13,520. how much did she originally invest? katerina lubov invested $ originally

katerina lubov inherited some money and invested it at 4% simple interest. at the end of the year, the total amount of her original principal and the interest was $13,520. how much did she originally invest? katerina lubov invested $ originally

Answer

Explanation:

Step1: Set up the simple - interest formula

The formula for simple interest is $A = P(1 + rt)$, where $A$ is the total amount, $P$ is the principal, $r$ is the interest rate, and $t$ is the time. Here, $r=0.04$, $t = 1$ year, and $A=$13,520$. So the equation becomes $13520=P(1 + 0.04\times1)$.

Step2: Solve for the principal $P$

First, simplify the right - hand side of the equation: $13520 = P(1.04)$. Then, divide both sides of the equation by $1.04$ to isolate $P$. So $P=\frac{13520}{1.04}$.

Step3: Calculate the value of $P$

$P = 13000$.

Answer:

$13000$