Mathematics, 31.01.2020 03:52 Mimical
James took out a loan at a rate of 8,5% for 6 months. he had to payback $1876.50. how much did he borrow?
Answers: 1
![\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&1876.50\\ P=\textit{original amount deposited}\\ r=rate\to 8.5\%\to \frac{8.5}{100}\dotfill &0.085\\ t=years\to \frac{6}{12}\dotfill &\frac{1}{2} \end{cases} \\\\\\ 1876.50=P\left[ 1+(0.085)\left( \frac{1}{2} \right) \right]\implies 1876.5=P(1.0425) \\\\\\ \cfrac{1876.5}{1.0425}=P\implies 1800=P](/tpl/images/0488/3349/e677a.png)
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James took out a loan at a rate of 8,5% for 6 months. he had to payback $1876.50. how much did he bo...
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