# Example 3

- Author:
- Walch Education

A bank offers a savings account with 8% annual interest rate if the required minimum principal is met. If the amount in the account after 4 years is $1320, what is the principal balance? Justify your steps using the properties of equality and properties of operations. (Remember, the formula for simple interest is

*A*=*P*(1 +*rt*).)This applet is provided by Walch Education as supplemental material for their mathematics programs. Visit www.walch.com for more information.

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