Answer:
$1950
Step-by-step explanation:
Formula for simple interest:
I = Prt,
where I = interest; P = principal; r = yearly interest rate; t = time in years
We know: I = $2652.00; t = 8 years; r = 17%
Plug in the values we know in the formula, and solve for P.
I = Prt
2652 = P(17%)(8)
P = 2652/(0.17 * 8)
P = 1950
Answer: $1950
