The following information is known about a loan. 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

Question

Jax

Mathematics

30 May, 19:06

The following information is known about a loan. 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

+4

Answers (2)

Know the Answer?

Kiana Ochoa · Answer 1

Kiana Ochoa 30 May, 19:09

0

Your Answer Is D. $2,000.00

Brynlee Erickson · Answer 2

the answer is b because you multiply the years and the interest rate then make the percentage into a decimal when you do that you will get. 6 then multiply by whatever your answer was when you multiply the years and interest rate

The following information is known about a loan. 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

The following information is known about a loan. 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