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Amy got a $1,000 loan from her bank, and she had to repay $1,500. What are the principle and interest amounts in this transaction?
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Mar 3, 2019
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Amy got a $1,000 loan from her bank, and she had to repay $1,500. What are the principle and interest amounts in this transaction?
Mathematics
high-school
Soline
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Loan amount = $1000
So the principal is $1000.
_____________________
Repayment amount = $1500
Interest = Repayment amount - principal
=> Interest = $1500 - $1000 = $500
______________________
Alon Shmiel
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Mar 8, 2019
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Alon Shmiel
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