Question

Amy got a $1,000 loan from her bank and she had to repay $1,1550 what are the principal and interest amounts in this transaction

Answer 1

Answer:

The  Principal amount = $1,000 and the interest amounts in this transaction  is $155.

Step-by-step explanation:

Loan taken by Amy amount = $1,000.

Please note : Loan amount taken from the bank would be Principal value of the transaction, because we need to apply operations on $1,000 to add the interest on the loan.

Total amount repaid by Amy = $1,155.0

Note: In given problem repay amount is $1,1550, which is really very high amount and does not make any sense. So, I made a decimal there as it seems that you missed that decimal to put.

Therefore, interest amount = Repay amount - Principal amount

= $1,155 - $1,000 = $155.

Therefore, interest amounts in this transaction  is $155.

Answer 2

If I'm right the principal amount is $1,000 and the interest(if $1,550) is $550 in the transaction.