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Math

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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 -

    I = PRT

    1,320 = P * 0.132 * 2.5

    1,320 = 0.33P

    1,320 / 0.33 = P

    4,000 = P

  • Math -

    Thanks for the help!!! ;)

  • Math -

    You're welcome.

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