Asked by Suzie Q

You have two loans, for 2 years each. The total interest for the two loans is
$138. On the first loan, you pay 7.5% simple interest on a principal of $800. On the
second loan, you pay 3% simple interest. What is the principal for the second loan?

Answers

Answered by Reiny
interest on first loan = 800*.075*2 = 120
so the interest on the second loan
= 138-120 = 18

using the simple interest formula:
18 = P*.03*2
P = $300
Answered by jeff
jk
xd
Answered by 69
I play fortniye
Answered by Anonymous
Lol kid
Answered by DC
hi
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions