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?

I = PTR

2,125  =  P*3.5*.1
2,125  =  .35P

P  =  2,125 / .35

P = $6,071.43 

Principal = $6,071.43 

Total amount paid = $6,071.43  +  $2,125  =  $8,196.43