document.write( "Question 500249: Clarita borrowed money at a 6% interest rate. If sheh pays the bank a total of $8000 at the end of ten years, how much did she originally borrow?\r
\n" ); document.write( "\n" ); document.write( "How do I utilize the I=prt formula to figure out the original borrowing amount?\r
\n" ); document.write( "\n" ); document.write( "Thanks! \n" ); document.write( "
Algebra.Com's Answer #338085 by geetha_rama(94)\"\" \"About 
You can put this solution on YOUR website!
Amount = Principle + Interest -> formula 1\r
\n" ); document.write( "\n" ); document.write( "Interest = (P*r*t)/100 -> formula 2\r
\n" ); document.write( "\n" ); document.write( "Let P be the Principle that Clarita borrowed from the bank
\n" ); document.write( "I be the interest
\n" ); document.write( "r = rate of interest = 6%
\n" ); document.write( "t = 10 years\r
\n" ); document.write( "\n" ); document.write( "Amount = $8000\r
\n" ); document.write( "\n" ); document.write( "Using the formula 1,
\n" ); document.write( "8000 = P + I\r
\n" ); document.write( "\n" ); document.write( "Substituting I from the formula 2,
\n" ); document.write( "8000 = P + (Prt)/100]
\n" ); document.write( "8000 = P*(1+ (rt)/100)
\n" ); document.write( "8000 = P*(1+ (6* 10)/100)
\n" ); document.write( "8000 = P*(1+3/5)
\n" ); document.write( "8000= P*8/5
\n" ); document.write( "=> P = (8000*5)/8
\n" ); document.write( "=> P = 5000
\n" ); document.write( "Hence Clarita borrowed $5000 from the bank
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