Question

Use the information below to answer the following questionOwen deposits $300 in a savings account that earns 1.7% interest each year.The __ of the savings account is $300. *InterestPrincipalRateTime

Answer 1

Interest means the interest in decimal form.

Rate, interest in percent form.

Time, number of periods that you will earn interest.

And principal is the initial amount of money.

So in this case, The principal of the savings account is $300.