Amy got a $1,000 loan from her bank, and she had to repay $1,550. What are the principal and interest amounts in this transaction?

Question

anonymous · Answer

A. principal is $1,000; interest is $1,550 
B. principal is $1,550; interest is $550 
C. principal is $1,000; interest is $550

bahrom7893 · Answer

can u give me the definitions of principal and interest amounts?

anonymous · Answer

I think it's C but I'm not sure about the definitions of principal and interest :p

bahrom7893 · Answer

lol me too, just don't wanna give out false info.. when in doubt, ask haha

anonymous · Answer

The problem in my case is that I don't speak English very well so I can misunderstand things, I always learned math in Spanish.