Question

You borrow money for 4 years. The total amount you repay is $7,840, which includes $840 in simple interest. How much was the principal?

Answer 1

7000

Explanation:

the repay amount - interest = principal

7840 - 840 = 7000

Answer 2

$7,000

Explanation:

$7,840 - $840 to get the principal value

$7000