Register

The following information is known about a loan time equals seven years interest rate equals 6% interest equals 840 $.00 what was the principal on a loan

The following information is known about a loan time equals seven years interest rate equals 6% interest equals 840 $.00 what was the principal on a loan
asked 62.2k views
0 votes
The following information is known about a loan time equals seven years interest rate equals 6% interest equals 840 $.00 what was the principal on a loan

asked
User Amey Kumar Samala
by
7.6k points

1 Answer

3 votes

Answer:

$2,000

Explanation:

Interest = Principal x Rate x Time

840 = .06(7)p

840 = 0.42p

p = 2000

answered
User Aleksei Potov
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!