Question

"You only spend 29 cents a day for each $500 borrowed" is the part of the problem that tells you about

O A. Interest
OB. Rate of interest
OC. Time constraints
OD. Principal
Click to select your answer.

Answer 1

Principal

Explanation:

Given

`Debt = \$500`

`Spent = 29\ cents`

Required

Determine what the given parameters describe

Literally, the principal amount is the starting amount of anything and as seen in the given parameters, the starting amount is the debt which amounts to $500

Taking the options one after the other;

We can conclude that the given parameters do not talk about Interest, Rate of interest and Time constraint;

Hence, D. Principal answers the question.

The given parameters do not relate to interest