Dad saved a five-year education savings fund for Zhang Li, with an annual interest rate of 5.4%. Upon maturity, I received the principal and interest, totaling 25,400 yuan. How much money did Dad save
Dad saved a five-year education savings fund for Zhang Li, with an annual interest rate of 5.4%. Upon maturity, I received the principal and interest, totaling 25,400 yuan. How much money did Dad save for Zhang Li?
Interest = principal × interest rate × term
Interest = principal and interest and-principal.
Let the principal be x.
X×5.4% ×5=25400-X
1.27X=25400
X=20000
Dad saved the principal of 20 thousand yuan for Zhang Li.