SOLUTION: After 4 years, Kate has a total debt of $23760 including 8% interest rate charges per annum. How much money did she borrow?

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Question 1098529: After 4 years, Kate has a total debt of $23760 including 8% interest rate charges per annum. How much money did she borrow?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
Assuming Kate borrowed all the money and one time and made no payments on the debt,
23760=P%281%2B0.08%29%5E4
P=23760%2F%281.08%29%5E4
Work that out for your answer.