Answer: $2750
Step-by-step explanation:
Formula to calculate interest : I = Prt , where P = Principal amount , r = rate of interest ( in decimal) , t= time.
Given: I= $495
t= 3 years
r= 6% = 0.06
Then, according to the above formula:
[tex]495 = P (0.06\times3)\\\\\Rightarrow\ P=\dfrac{495}{0.18}\\\\\Rightarrow\ P=2750[/tex]
Hence, the principal invested = $2750
