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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?
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1 vote
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?

User WildlyInaccurate
by
7.1k points

2 Answers

3 votes

Answer:

7000

Explanation:

the repay amount - interest = principal

7840 - 840 = 7000

User DGentry
by
6.6k points
4 votes

Answer:

$7,000

Explanation:

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

$7000

User Scottie
by
7.3k points
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