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3 years ago

7

Sally borrows some money at a 15% interest rate. She repays the loan in full after 30 months and pays $1692 in interest. How muc

h did she borrow?

1 answer:

Tanya [424]3 years ago

3 0

Answer: $4512 was the amount she borrowed.

Step-by-step explanation:

SI = 1692

R = 15% = 0.15

T = 30 months = 2.5 years

SI = PRT

1692 = P x 0.15 x 2.5

1692 = 0.375P

P = 1692 / 0.375

P = 4512

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