I agreed to lend a friend money at a special interest rate of 10% per year on the condition that the friend borrow enough that they would pay %650 in interest over a period of 4 years what is the minimum amount my friend could borrow

Question

I agreed to lend a friend  money at a special interest rate of 10% per year on the condition that the friend borrow enough that they would pay %650 in interest over a period of 4 years what is the minimum amount my friend could borrow

Anoymous · Answer

thats $650 dollars not percent

Ms. Sue · Answer

I = PRT 650 = P * 0.1 * 4 650 = 0.4P 650 / 0.4 = P 1,625 = P