Answer:
$135.63
Step-by-step explanation:
first and foremost, the formula for interest is I = Prt. P is the principal, r is the rate, and t is the time.
so plug in the numbers you have. Always convert the rate to a decimal. The rate would be 0.0.45. Plug in 54.93 for the I and plug in 9 for the time. It would look like this:
54.93 = P(0.045)(9) --> 54.93 = 0.405P --> P = 135.63
