Question

Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What was the amount of the loan?

Answer 1

The answer is $4,875.05.

Explanation:

Answer 2

Explanation:

The answer is $4,875.05.

4,875.05 multiplied by 0.0525 is $255.94