Question

Three years ago, claire borrowed money from her father to pay for a class trip. She agreed to pay him 6% simple annual interest on the loan. Now she owes him 90$ in interest, plus the principal amount. How much did Clare borrow? The answer is 500, but how did you get that answer correctly? Step by step can u show me?

Answer 1

Below

Explanation:

6% simple annual interest on the loan for 3 years so 6x3=18

So the interest of the whole amount is 18%, so now you got to find what of 18% is 90

This looks like (initial amount)x(number)%=(final amount)

x=initial amount

number%=18

final amount=90

All percentages are just number%/100. So we have either 18/100, or .18 depending on how you want to work it.

So now we do 90÷0.18 which gives you the answer 500