trevor has an investment worth $6,774.50. he made his only deposit in it 22 years ago. given that the…

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $A = P(1+rt)$, where $A$ is the final amount, $P$ is the principal (initial deposit), $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. Given $A=$6774.50$, $r = 0.027$ (since $2.7%=0.027$), and $t = 22$ years. We need to solve for $P$. $A=P(1 + rt)$ can be rewritten as $P=\frac{A}{1+rt}$.

Step2: Substitute values into the formula

Substitute $A = 6774.50$, $r=0.027$, and $t = 22$ into the formula $P=\frac{A}{1+rt}$. $1+rt=1+(0.027\times22)=1 + 0.594=1.594$. $P=\frac{6774.50}{1.594}$.

Step3: Calculate the value of $P$

$P=\frac{6774.50}{1.594}=4250$.

Answer:

c. $$4,250.00$