SOLUTION: How much money was borrowed at 15% simple interest for 18months if the interest paid was P3,000. Thank you for your help..=)

SOLUTION: How much money was borrowed at 15% simple interest for 18months if the interest paid was P3,000. Thank you for your help..=)

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Question 188072: How much money was borrowed at 15% simple interest for 18months if the interest paid was P3,000.

Thank you for your help..=)
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
I=P*r*t
:
3000=P(.15)(1.5)
:
P=3000/.225
:
P=$13,333.33
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