Question 149841: Dr. Sand borrowed some money for new furniture. She paid $245. simple interest on a 3.5 year loan at 3.5%. Find the principle.
Please help,
Ellen: Dr. Sand borrowed some money for new furniture. She paid $245. simple interest on a 3.5 year loan at 3.5%. Find the principle.
Please help,
Ellen Answer by josmiceli(2018) (Show Source):
You can put this solution on YOUR website! The formula is
Principle =
number of years =
Amount paid on loan after years =
Annual interest rate =
Interest after years =
------------------
Given is
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The principle was $2000 answer
plug this back into formula to check
OK
Question 149841: Dr. Sand borrowed some money for new furniture. She paid $245. simple interest on a 3.5 year loan at 3.5%. Find the principle.
Please help,
Ellen: Dr. Sand borrowed some money for new furniture. She paid $245. simple interest on a 3.5 year loan at 3.5%. Find the principle.
Please help,
Ellen Answer by scott8148(2719) (Show Source):
