Question: TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 4 years ago at 13% per year simple interest. If

TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 4 years ago at 13% per year simple

TMI Systems, a company that customizes software for construction cost estimates, repaid a loan obtained 4 years ago at 13% per year simple interest. If the amount that TMI repaid was $220,000, calculate the principal of the loan. The principal of the loan is $ Interest rates are always expressed as a percentage over an annual time period. True or False

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