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The simple interest paid on a loan after 2 and 1/2 years was $11.25. The annual interest rate was 1.5%. What was the principle?

The simple interest paid on a loan after 2 and 1/2 years was $11.25. The annual interest rate was 1.5%. What was the principle?
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The simple interest paid on a loan after 2 and 1/2 years was $11.25. The annual interest rate was 1.5%. What was the principle?

User Matt Hinze
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1 Answer

5 votes
$7.91 takes it to 11.245 which rounds to 11.25
User Soveran
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