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OpenStudy (anonymous):

A loan officer provides you a simple interest loan at a rate of 10%. After 2 years, you have paid the entire principal plus $95.00 in interest. What was the original principal amount of your loan? a. $0.21 b.$4.75 c. $475.00 d. $237.50

OpenStudy (anonymous):

@sky577

OpenStudy (anonymous):

c

OpenStudy (texaschic101):

I = PRT 95 = P (.10)(2) 95 = .2p 95/.2 = p 475 = p yup..it is C

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