James took out a loan at a rate of 8.5% for six months he had to pay back $1876.50. how much did he borrow

1. James took out a loan at a rate of 85% for siz months.

Then he had to pay back 1 876.50 dollars in six months.

Let’s find out how much did James originally borrowed before it has an interest rate:

=> 1 876.50 dollars is the amount he paid with 8.5% interest already.

=> 8.5% / 100 =.085

Now, let’s multiply

=> 1 876.50 *.085 = 159.5025

we now have the value of 159.5025, Now subtract,

=> 1 876.50 - 159.5025 = 1716.9975 or approximately 1717 dollars.