Question

Hellonim confused on this question. I think i get it but im unsure.

Answer 1

`\begin{gathered} t=\text{7 months} \\ r=7.2\text{ \%, but it must be monthly} \\ r=\frac{7.2\text{ \%}}{12}=0.6\text{ \%}=0.006 \\ I=231 \\ C=loan \\ I=Crt \\ Solving\text{ C} \\ C=(I)/(rt) \\ C=(231)/(\left(0.006\right)\left(7\right)) \\ C=5,500 \\ She\text{ borrowed \$5,500} \end{gathered}`