The Problem: Phillips Health and Beauty Spa is replacing one of its workstations. The interest on a loan secured by the spa was $93.50. The money was borrowed at 5.5% simple interest for 2 years. What

Marlin asked Feb 28, 2022

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Marlin asked Feb 28, 2022

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12 votes

Answer:

$850

Explanation:

Amount that was borrowed = interest / (interest rate x time)

93.50 / (0.055 x 2) =

93.50 / 0.11 = $850

Ejez answered Mar 4, 2022

by Ejez

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