Homework Help: math

Posted by CC on Thursday, June 9, 2011 at 11:06pm.

Dr. Collins borrowed some money to buy new furniture for her office. She paid $720.00 simple interest on a 7.5-year loan at 16%. Find the principal.

math - Ms. Sue, Thursday, June 9, 2011 at 11:22pm
I = prt

720 = p * 7.5 * 0.16
720 = 1.2p
720/1.2 = p
600 = p

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