Question

HELP A.S.A.P (as soon as possible) FOR 20 POINTS

Elsa took out a 2-year loan to buy a car at a 6% simple interest rate. If she has to pay $264 in interest, how much principal did she borrow?

Bonus If You Show The Work PLEASE HELP

Answer 1

Answer: $22
( I thought I’d add this with an explanation)
Step-by-step explanation:

Principle formula:

I = PRT

Put the values of I, R, and T in

264 = P * 6 * 2

Solve

264 = 12P

Divide 12 from both sides

22 = P

The principle amount Else borrowed is $22.

Answer 2

she had to take out 345 because of tax