Answer: $2400
Step-by-step explanation:
Given
Interest earned is $450
The rate of interest is R=7.5%
Time period T=2.5 years
Simple Interest is given by
[tex]S.I.=\dfrac{P\times R\timesT}{100}\quad [\text{P=Principal}][/tex]
Substitute values
[tex]450=\dfrac{P\times 7.5\times2.5}{100}\\\\P=\dfrac{450\times 100}{7.5\times 2.5}=\$2400[/tex]
