Find the Amount of the Principal on a Loan at 6

question 144

Multiple Choice

Find the amount of the principal on a loan at 6% interest for 274 days if the interest was $68.50, using the ordinary interest method. (Round to the nearest whole dollar amount)

• A) $1,500
• B) $1,521
• C) $313
• D) $6,850

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Definitions:

William Lloyd Garrison

An American abolitionist, journalist, suffragist, and social reformer best known for his anti-slavery newspaper "The Liberator" and for founding the American Anti-Slavery Society.

James G. Birney

An American abolitionist leader who ran for President of the United States as a candidate of the Liberty Party, advocating for the end of slavery.

James G. Birney

A prominent American abolitionist, politician, and attorney known for his leadership in the anti-slavery movement and candidacy for presidency under the Liberty Party in the 1840s.

Political Solution

A resolution achieved through diplomatic, legislative, or political processes to address a societal issue.