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3 years ago

12

At the end of 8 years, Anna paid $400 interest for a loan. If the simple annual interest rate was 4%, how much did Anna borrow?

A. $1250 B. $1080 C. $864 D. $432

2 answers:

andreev551 [17]3 years ago

7 0

Answer:

A.)$1250

Step-by-step explanation:

Have a nice day

TiliK225 [7]3 years ago

4 0

Answer:

<h2>$1250</h2>

Step-by-step explanation:

Use the formula i = prt

First, converting R percent to r a decimal

r = R/100 = 4%/100 = 0.04 per year,

then, solving our equation

P = 400 / ( 0.04 × 8 ) = 1250

P = $ 1,250.00

The principal required to

accumulate interest of $ 400.00

on a rate of 4% per year for 8 years is $ 1,250.00.

<h3><u>Brainliest Please!</u></h3>

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