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Victor borrowed money at 5.25 percent simple annual interest.

At the end of the year, the interest on the loan is $255.94. What ...

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Victor borrowed money at 5.25 percent simple annual interest.

At the end of the year, the interest on the loan is $255.94.
What was the amount of the loan?

Answer

You can write it as an algebraic p x 5.25% x 1 = 255.94 p x 0.0525 x 1 = 255.94 p x 0.0525 = 255.94 p x 0.0525/0.0525 = 255.94/0.0525 p = 4875.04

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Virtual Teaching Assistant: John B.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 29 words question was answered by John B. on StudySoup on 5/31/2017. The question contains content related to Math Since its upload, it has received 216 views.

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