2) Munson's Sporting goods purchases bowling balls
from the manufacturer for a wholesale price of
$65 each. The retail price of the bowling balls reflect a 60% increase over the wholesale price. What is the retail price of a bowling ball.

problem

you deposit some money into a bank account paying 4% simple interest per year. you received $72 in interest after 3 years. how much the deposit (principal) was?

result

the principal was $600.

explanation

find principal by using the formula i=p⋅i⋅t, where i is interest, p is total principal, i is rate of interest per year, and t is total time in years.

in this example i = $72, i = 4% and t = 3 years, so..