Solve I = Prt for P , If I =

question 132

Multiple Choice

Solve i = Prt for P , if i = 24.48, r = 0.72, t = 2.

• A) P = 22
• B) P = 19
• C) P = 12
• D) P = 17
• E) none of these

---

Definitions:

Interest Revenue

Income received from investments, savings, or as a payment for lending money.

Promisor

A person or entity who makes a promise or commits to performing a specified action in a contract.

Face Amount

The nominal or dollar value stated on a financial instrument or security, such as a bond.

Maturity Date

The specific date on which the principal amount of a financial instrument, such as a bond or loan, becomes due and payable.