IsabellaLP IsabellaLP

18-03-2021
Mathematics

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Andy took out a 5 year loan at 12% interest rate to pay for a trip to Spain. If he ended up paying $4937.50 in interest, how much was the trip?

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reeserl reeserl

19-03-2021

Answer:

Trip cost $8229.17

Step-by-step explanation:

I = PRT I = 4937.50 R = .12 T = 5 P = amt for the trip

4937.5 = .12(5)P

4937.5 = .6P

P = 4937.5/.6 = $8229.17

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