Posted by Tee on Wednesday, June 19, 2013 at 8:15pm.
Katie Chalmers borrowed money from her credit union at 13.2% simple interest to buy furniture. If the loan was repaid in 2½ years and the amount of interest was $1,320, how much did Katie borrow?

Math  Ms. Sue, Wednesday, June 19, 2013 at 8:37pm
I = PRT
1,320 = P * 0.132 * 2.5
1,320 = 0.33P
1,320 / 0.33 = P
4,000 = P

Math  Tee, Wednesday, June 19, 2013 at 9:55pm
Thanks for the help!!! ;)

Math  Ms. Sue, Wednesday, June 19, 2013 at 10:04pm
You're welcome.
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