$306 was paid for 6 months on a simple interest loan at 8%. What is the principle?
P = I/(RT) = 306/((1/2)(.08))
= 7650
BTW, it is spelled "principal"
I know it is only spelling, but it's the principle of the thing.
= 7650
BTW, it is spelled "principal"
I know it is only spelling, but it's the principle of the thing.