Answered

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Aaron borrowed money to start a new
business. The simple interest rate on the
loan is 2.5%. He will pay back the loan by
making a total of 12 payments of $266.50
each. How much did he borrow?

Sagot :

ceciliazimba90

Answer:

$6.69448

Step-by-step explanation:

I=?

P=$266.50

R=2.5*1/100=2.5/100

T=12

P*R*T

$266.50*2.5/100*12=$6.69448

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