If 120% is £360, what is 100%?
1 answer:
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The principal loan amount will be 250000. P is denoted by the principal loan amount
<h3> What is the amount?</h3>The complete repayment of money at the end of the period for which it was borrowed is referred to as the amount.
The given data in the problem is;
P is the principal loan amount
r is the rate of interest = 2.49%
n is the time period= of 30 years
The formula for the principal loan amount is found as;
Hence the principal loan amount will be 250000.
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