Answer:
Shen borrowed $7,300.
Explanation:
Since the annual interest rate of the loan taken by Shen is 2.5%, if the loan had a duration of 292 days, the real interest of said loan is 2% (2.5 / 365 x 292).
Therefore, if the interest paid for the loan was $ 146, and this amount is equal to 2% of the value of the loan, to obtain said value the following cross multiplication must be performed:
2 = 146
100 = X
((100 x 146) / 2) = X
(14,600 / 2) = X
7,300 = X
Therefore, the loan amount was $ 7,300.
