# Math

If you pay 3.5 % interest over 4 years and the interest earned is \$498.40 what is the principal

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1. Simple Interest over n years at r% p.a. on a principal P is
Interest = P(1+nr)
So
Principal, P
=Interest/(1+nr)
=\$498.40/(1+0.035*4)
=\$498.4/(1.14)
=???

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