Working out a word problem

User Generated

wugurjevgre

Mathematics

Description

if the annual interest rate is 7.1%  and the time on the loan is 135 days with a interest payment of $530 how much is the principal amount?

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Explanation & Answer

Thank you for the opportunity to help you with your question!

Hi, attached is the excel sheet containing the solution of your problem -

Principal amount.xlsx

Please let me know if you need any clarification. I'm always happy to answer your questions.


Anonymous
I was having a hard time with this subject, and this was a great help.

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