The formula for finding simple interest is I = PRT, where I is the amount of interest charged, P is the principal amount borrowed, R is the percent of interest charged, and T is the length of time of the loan. If the interest is $315, the rate is 7.2% and the time is
$$1 \frac { 3 } { 4 }$$ years, how much money was borrowed?

Question

The formula for finding simple interest is I = PRT, where I is the amount of interest charged, P is the principal amount borrowed, R is the percent of interest charged, and T is the length of time of the loan. If the interest is $315, the rate is 7.2% and the time is
 $$1 \frac { 3 } { 4 }$$ years, how much money was borrowed?

Quizplus · Accepted Answer

The Answer is $2,500

The Formula for Finding Simple Interest Is I = PRT 1341 \frac { 3 } { 4 }143​

The Formula for Finding Simple Interest Is I = PRT $1 \frac { 3 } { 4 }$