math
posted by Beth on .
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?

Let A = borrowed amount
then
A*(0.132)*2.5 years
= 1320
A=1320/(0.132*2.5)
=4000