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Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155.

Business & Finance
Tutor: None Selected Time limit: 1 Day

Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155.

Oct 25th, 2014

SI=1155

R=4.2%

T=5.5 years

SI= PRT/100

1155= P*4.2*5.5/100

1155*100/(4.2*5.5)=P

115500/23.1=P

P = $ 26,68,050

Oct 25th, 2014

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Oct 25th, 2014
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Oct 25th, 2014
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