1. Finding Principal, Rate, and Time
Section 9.2
Finding Principal, Rate, and Time

2. USE I = P x R x T
NOTE: unless specified, we will use the ordinary interest with 360 days in this section!
Use the percent circle concept…

3. A 90 day loan with a rate of 12% results in interest of $285
A 90 day loan with a rate of 12% results in interest of $285. Find the principal.
A loan made on May 12 must be repaid on December 18. Find the principal given that the rate is 9% and the interest at maturity is $1551.
A 4 month loan for $15,000 has interest of $ Find the rate to the nearest tenth of a percent.

4. A loan of $37,000 made on February 4 results in interest of $770. 83
A loan of $37,000 made on February 4 results in interest of $ If the loan is due on May 15 find the rate to the nearest tenth of a percent.
A loan for $22,000 results in interest of $ at 10.5%. Find the time to the nearest day.