Elsa took out a 2 year loan to buy a car at 6% simple interest rate. if she has to pay $264 in interest, how much principal did she borrow?

Principal borrowed is $2,200

Step-by-step explanation:

To know the amount of principal Elsa borrowed to buy a car, we will simply use the simple interest formula;

Simple Interest =  PRT  /  100

Where p = principal

R is the rate

T is the time (in years)

In this case, principal is what we are looking for,  time= 2 years and simple interest = $264

So we will now plug in our variables

Simple Interest =  PRT  /  100

$264      =    P × 6 × 2   /  100

$264    =   12P   / 100

Cross multiply

12P   = $264  ×   100

12P   =  26400

Divide both-side of the equation  by 12

12P/12  =26400/12

(On the left-hand side of the equation 12 will cancel out 12 leaving us with just P and on the right-hand side of the equation 126400 will be divided by 12)

P =   $2,200

Therefore, the principal she borrowed is $2,200

$8

step-by-step explanation:

it is pretty much backwards.

you take the 4x2 multiply that, and that is = $8

12.4, 12.387, 12.26, 12.252, 6.241, 6.2, 6.015, 6.009, 1.411, 1.2, 1.056, 1.007, 0.31,   0.13, 0.5, 0.04

step-by-step explanation:

ur welcome : )