Question

Three years ago, Claire borrowed money from her father to pay for a class trip. She agreed to pay 6% simple annual interest on the loan. Now she owes him $90 in interest, plus the principal amount. How much did Claire borrow?

Answer 1

Answer:

Claire borrowed $500 from her father.

Step-by-step explanation:

Interest = $90

p = ?

r = 6% or 0.06

t = 3

Simple interest formula is :

$I=p\times r\times t$

Putting values in formula we get;

$90=p\times0.06\times3$

$90=0.18p$

p = $500

Hence, Claire borrowed $500 from her father.

Answer 2

Answer:

500

Step-by-step explanation: