aishaburch aishaburch
  • 13-12-2015
  • Mathematics
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At a rate of 4%, you paid $144.00 in interest over a two-year period. What was the original amount of your loan?

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Аноним Аноним
  • 13-12-2015
Principal is the same as original amount. 
1. You convert the rate % to a decimal number. (divide by 100) 

2. Substitute: 

P = 144 / (.04 x 2) 

3. Solve: 

P = 144 / .08 
P = 1,800 

4. Your answer is $1,800
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