Answers

  • Brainly User
2016-01-03T16:10:20+08:00
Principal or amount borrowed =  \frac{12,000}{1+ (0.07)(3)}

Principal =  \frac{12,000}{1 + 0.21 }

Principal =  \frac{12,000}{1.21}

Principal = 9,917.36 or 9.917.00

ANSWER:  Marvin borrowed 9,917.00

Check:

I = (P) (R) (T)
12,000 - 9,917.00 = (9,917.00) (0.07) (3)
2,083 = 2,082.57
2,083 = 2,083



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