Joe overheard his father complaining about having to pay $300 in interest in just one year. the simple annual interest rate was 16%. how much money did joe's father borrow?

Joe's father borrowed $1,875.

Step-by-step explanation:

The simple interest formula is

is the interest.

is the principal amount.

is the rate.

is the time in years.

Since we want to know how much money he borrowed that would be considered the prinicipal amount. Therefore, we need to manipulate the formulate so that it equal instead of .

We simply need to divide the rate and time from both sides of the equation in order to single out .

Now plug in the given information into our formula.

Therefore, Joe's father borrowed $1,875.

answer 1 : option "c"

answer 2 : option "d"

answer 3 : option "b"

answer 4 : option "d"

answer 5 : option "b"

answer 6 : option "a"

answer 7 : option "c"

answer 8 : option "d"

answer 9 : option "c"

answer 10 : option "d"

answer 11 : option "c"

answer 12 option "b"

answer 13 option "c"

answer 14 option "c"

answer 15 option "d"

answer 16 option "a"

answer 17 option "b"

answer 18 option "c"

answer 19 option "a"

answer 20 option "a"

answer 21 option "c"

d

= 5

step-by-step explanation:

to find the 15th term substitute n = 15 into the nth term formula

= (- 3 × 15 ) + 50 = - 45 + 50 = 5