SOLUTION: 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
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-> SOLUTION: 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
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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 Found 2 solutions by josmiceli, scott8148:Answer by josmiceli(19441) (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 =
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Given is
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The principle was $2000 answer
plug this back into formula to check
OK
