Answer:
801.5625
Step-by-step explanation:
25.65×100/1.6×2=801.5625
The principal on a savings account with 1.6% interest rate that has earned $25.65 over 2 years will be 801.56 dollars.
Simple interest is a method of calculating the interest charge.
Simple interest can be calculated as the product of principal amount, rate and time peroid.
Simple Interest = (Principal × Rate × Time) / 100
The principal on a savings account with 1.6% interest rate that has earned $25.65 over 2 years.
Simple Interest = (Principal × Rate × Time) / 100
25.65 × 100/(1.6 × 2 )
= 801.5625
Therefore, the principal on a savings account with 1.6% interest rate that has earned $25.65 over 2 years will be 801.56 dollars.
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