Asked by kaven
$306 was paid for 6 months on a simple interest loan at 8%. What is the principle?
Answers
Answered by
Reiny
P = I/(RT) = 306/((1/2)(.08))
= 7650
BTW, it is spelled "principal"
I know it is only spelling, but it's the principle of the thing.
= 7650
BTW, it is spelled "principal"
I know it is only spelling, but it's the principle of the thing.
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