katelyn’s older brother borrowed money for school. he took out a loan that charges 6% simple interest. he…

Explanation:

Step1: Recall the simple interest formula

The formula for simple interest is ( I = P \times r \times t ), where ( I ) is the interest, ( P ) is the principal (the amount borrowed), ( r ) is the annual interest rate (in decimal form), and ( t ) is the time in years.

Step2: Convert the interest rate to decimal

The interest rate is 6%, so in decimal form, ( r = \frac{6}{100}= 0.06 ).

Step3: Plug in the known values and solve for ( P )

We know that ( I = 720 ), ( r = 0.06 ), and ( t = 6 ). Substituting these values into the formula ( I = P \times r \times t ), we get: ( 720 = P \times 0.06 \times 6 ) First, calculate ( 0.06\times6 = 0.36 ). So the equation becomes: ( 720 = P \times 0.36 ) To solve for ( P ), we divide both sides of the equation by ( 0.36 ): ( P=\frac{720}{0.36} ) ( P = 2000 )

Answer:

Katelyn's brother borrowed $2000 for school.