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twishanoreo twishanoreo
  • 24-02-2017
  • Mathematics
Answered

The following information is known about a loan. time = 7 years interest rate = 6% interest = $840.00 what was the principal on the loan?

Verified Answer :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 26-02-2017

P=i/rt
P=840/7*0.06=2,000

Answer Link
InesWalston
InesWalston InesWalston
  • 28-12-2018

Answer:

The principal on the was $2000.

Step-by-step explanation:

We know that,

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where,

i = interest,

P = principal,

r = rate of interest,

t = time.

Putting the given values,

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@@MATH_TOKEN_2@@

Therefore, the principal on the was $2000.

Answer Link

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