Solve the formula I=Prt to find the principal, P, when I=$162, r=3.6%, and t=3 years.

1500$

Step-by-step explanation:

The formula to use in this problem is the one for the simple interest:

where:

I is the interest

P is the principal

r is the rate of interest

t is the time

In this problem, we have:

I=$162 (interest)

r=3.6%, which we can rewrite as

and

t=3 years

Therefore, re-arranging for P, we find the principal:

1/4 and 8/3 because:

the reciprocal if 4 is 1/4 because 4 is used as 4/1 and the opposite of that is 1/4. the opposite of 3/8 is 8/3 so that is the answer.