Answer:
<h3>The Principal amount = $1,000 and the interest amounts in this transaction is $155.</h3>
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.
