document.write( "Question 176394: Consumer laon is made at 10% over 3.5 years. If $2,125 interest is paid what is the principal? What is the total amount paid? \n" ); document.write( "

Algebra.Com's Answer #131511 by jojo14344(1513) $\"\"$ $\"About$

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\n" ); document.write( "Usually, commercial/consumer loans are on a Simple Interest Method of Payment (unless otherwise specified), where Principal and Interest are due when the loan matures.
\n" ); document.write( "Simple Interest= $\"I=PRT\"$
\n" ); document.write( " $\"2125=P%280.10%29%283.5%29\"$
\n" ); document.write( " $\"P=2125%2F%280.35%29\"$ =$6071.4286 Principal
\n" ); document.write( "Total Amount Paid: $\"I%2BP=2125%2B6071.4286\"$ =$8196.4286
\n" ); document.write( "Thank you,
\n" ); document.write( "Jojo \n" ); document.write( "

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