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The following information is known about a loan time equals seven years interest rate equals 6% interest equals 840 $.00 what was the principal on a loan
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The following information is known about a loan time equals seven years interest rate equals 6% interest equals 840 $.00 what was the principal on a loan

User Amey Kumar Samala
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1 Answer

3 votes

Answer:

$2,000

Explanation:

Interest = Principal x Rate x Time

840 = .06(7)p

840 = 0.42p

p = 2000

User Aleksei Potov
by
7.7k points
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