<PRE><B>Question 1015633</B>
 $8500.80 was the amount required to pay off a loan after 16 months.

If the loan was at 7.80% per annum simple interest, how much of the total was interest? (Do not round your intermediate calculations and round the final answer to the nearest cent.)
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A(t) = P(1+rt)
8500.80 = P(1+0.078(16/12))
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8500.80 = P(1.104)
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Ans: P = $81738.46
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Cheers,
Stan H.
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