lilcloudleslie7593 lilcloudleslie7593
  • 08-12-2020
  • Mathematics
contestada

Scott gets a student loan to go to college after high school. If he pays $750 in interest at a rate of 3% over four years, how much must the loan have been for originally?

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 12-12-2020

Answer:

$6250

Step-by-step explanation:

Step one:

given data

simple intereest= $750

rate= 3%

time= 4years

Required

The Principal P

Step two:

SI= PRT/100

750= P*3*4/100

750=12P/100

cross multiply we have

12P=750*100

divide both sides by 12

P=75000/12

P=$6250

Answer Link

Otras preguntas

Draw a fish (tilapia) and label the parts​
Determine the vertex of the function f(x) = 3(x - 2)^2 + 1. (2, 1) (-2, 1) (1,2) (1,-2)
Explain moment of inertia​
what is the answer Why is the slope of an indifference curve bowed inward to the origin?
please help me Find DE.
What is the standard unit used to measure the mass​
Flag questionConsider the pressure and force acting on thedam retaining a reservoir of water. Suppose thedam is 500-m wideand the water is 80.0-mdeep at the dam
how language barriers can cause a breakdown in communication​
Use the identity property to answer the question.
identifying and explaining five recommendations to address teenage pregnancy​