Time = 7 years interest rate = 6% interest = $840.00 what was the principal on the loan? $200.00 $352.80 $1,862.50 $2,000.00

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Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-04-25T18:56:24+02:00

I=840÷(7×0.06)
I=2,000

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Blacklash Blacklash · Answer 2 · 2019-07-16T13:37:01+02:00

Answer:

Option D is the correct answer.

Step-by-step explanation:

We have equation

Simple interest = P x i x n

Here we have interest = $840.00 after 7 years.

n = 7

Interest rate, i = 6% = 0.06

Interest = 840 $

Substituting

840 = P x 0.06 x 7

P = 2000$

Option D is the correct answer.

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