lilcloudleslie7593 lilcloudleslie7593
  • 08-12-2020
  • Mathematics
contestada

Scott gets a student loan to go to college after high school. If he pays $750 in interest at a rate of 3% over four years, how much must the loan have been for originally?

Respuesta :

samuelonum1
samuelonum1 samuelonum1
  • 12-12-2020

Answer:

$6250

Step-by-step explanation:

Step one:

given data

simple intereest= $750

rate= 3%

time= 4years

Required

The Principal P

Step two:

SI= PRT/100

750= P*3*4/100

750=12P/100

cross multiply we have

12P=750*100

divide both sides by 12

P=75000/12

P=$6250

Answer Link

Otras preguntas

reggie needs 24 feet of rope to make a tire swing he has 10 yards of rope is this enough for him to make his swing explain.
An animal gained 6 kilograms steadily over 24 years. What is the unit rate of kilograms per year?
How do you write 1.5 × 104 in standard form?
economics please answer both of this 15 pts
The Industrial Revolution began in Great Britain partly because its many colonies
Evaluate the expression when x = –3 and y = –2. 2x – 5y A. –16 B. 16 C. –4 D. 4
Tom Smith is an experienced, high performing salesperson. Tom will find the highest compensation opportunities in which one of the following approaches
what is 72 divided by 24
2/4 of the candy bars at the store and there where 12 candy bars, how many would she buy
What is the height of a rectangular prism with a volume of 63 cubic feet and a base area of 15 square feet?