Given the formula for simple interest:
[tex]A=P(1+rt)[/tex]where A is the principal plus interest, P is the principal amount, r is the rate of interest and t is the time period.
In this case we have the following:
[tex]\begin{gathered} A=9000 \\ r=0.115 \\ t=6 \\ \Rightarrow9000=P(1+6\cdot0.115) \\ \Rightarrow P=\frac{9000}{1.69}=5325.44 \\ P=5325.44 \end{gathered}[/tex]Therefore, Jay is borrowing $5325.44
