Eliza paid an interest of $1,000 on a loan she had borrowed at a simple annual interest rate of 5.95% for 9 months. What was the original principal (round to the nearest cent)? O a. $1,063.26 O b. $22,408.96 O c. $16,806.72 d. $12,605.04
Eliza paid an interest of $1,000 on a loan she had borrowed at a simple annual interest rate of 5.95% for 9 months. What was the original principal (round to the nearest cent)? O a. $1,063.26 O b. $22,408.96 O c. $16,806.72 d. $12,605.04
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:Eliza paid an interest of $1,000 on a loan she had borrowed at a simple annual interest rate of 5.95% for 9 months.
What was the original principal (round to the nearest cent)?
O a. $1,063.26
O b. $22,408.96
O c. $16,806.72
O d. $12,605.04
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