tmi systems, a company that customizes software for construction cost estimates, repaid a loan obtained 7 years ago at 10% per year simple interest. if the amount that tmi repaid was $180,000. calculate the principal of the loan?
Total amount = Principal + Simple Interest
P+SI = 180,000
SI = PRT/100
P(1+RT/100) = 180,000
P = 18000/(1+0.7)
P = 105882.35
tmi systems, a company that customizes software for construction cost estimates, repaid a loan obtained 7...
TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 5 years ago at 11% per year simple interest. If the amount that TMI repaid was $290,000, calculate the principal of the loan. The principal of the loan is $ .
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