Question

@az how do I found the amount borrowed

Answer 1

Can you post the question?

Answer 2

you already have it

Answer 3

@AZ number 6

Answer 4

Ah okay, so amount borrowed is just the initial amount

A = P * (1 + rt)

this one is going to be a few more steps

first, what is the rate? and what is the time?

Answer 5

rate is 12% and time is 3 years

Answer 6

good so can you convert the rate into a decimal?

Answer 7

1.2

Answer 8

12 %

percent is out of 100

12 / 100 =

Answer 9

.12

Answer 10

there you go

so now we have

A = P * (1 + rt)

A = P * (1 + (0.12 * 3))

what is 0.12 * 3

Answer 11

.36

Answer 12

now add 1 to it

Answer 13

1.36

Answer 14

okay so now we have

A = P * 1.36

so we want to find out the value of P, which is the amount borrowed.

Remember what I've been telling you about A?
A is the final amount that is the amount borrowed + interest

how much interest is there?
it's the number all the way at the end in the last column

Answer 15

$342

Answer 16

is the interest rate

Answer 17

so

A = 1.36 P

And we just said that
A is the Principle amount + interest

A = P + 342

so we can replace that into the main equation

P + 342 = 1.36*P

Answer 18

does that make sense?

Answer 19

so divide

Answer 20

so first we have to get P all by itself

so let's take P and move it to the other side

what is 1.36P - P

Answer 21

idk

Answer 22

so P is the same thing as 1P

so basically
1.36 - 1
and just don't forget about the P

Answer 23

.36

Answer 24

good now we have

P + 342 = 1.36*P

342 = 0.36 * P

now can you solve for P?

we're multiply P with 0.36
to move 0.36 to the other side and get P all by itself, we have to do the opposite of multiplication

what is the opposite of multiplication?
and can you do that on both sides to 0.36

Answer 25

divide

Answer 26

yes

so divide 0.36

Answer 27

by what

Answer 28

342 = 0.36 * P

we have to divide 0.36 on both sides

Answer 29

that way then we'll get P all by itself and that's our final answer

Answer 30

so 342 / 0.36 =

Answer 31

I got it

Answer 32

\(\color{#0cbb34}{\text{Originally Posted by}}\) @lilcutie2
I got it
\(\color{#0cbb34}{\text{End of Quote}}\)

Good to hear :)

Answer 33

950

Answer 34

@az

Answer 35

That's your answer