You pay 3.5% annual simple interest for 12 years on a loan, and you pay $1,512 in interest. How much is the principal?

A = Pe^rt
Amount of interest paid = Principal*e^ (rate*time)
(The rate must be in decimal form)
3.15% / 100 = .0315

1,512 = P[e^(.0315*12)]
1,512 / e^(.0315*12) = P
1036.06 = P
$1036.06 was the Principal
** I left that value unrounded to the hundreds place because one doesn’t round with money. :)

Good luck!

What are the options

step-by-step explanation:

when the line is solid:

it's either < or >

when the line is dashed:

it's either < or >

this > inequality sign means:

greater thanmore thanaboveexceeds

this < inequality sign means:

less thanfewer thanbelow

this > inequality sign means:

greater than/equal tono less thanat leastminimum of

this < inequality sign means:

less than/equal tono more thanat mostmaximum of

about the problem:

since the line is solid, that means it's either < or >

srry i'm not done ! i'll