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Qadri Mohammedi borrowed money from Silver City National Bank and agreed to repay the entire amount plus interest for six monhts at the annual rate of 8-1/4%. On the due date, he paid $7,549.06 to cover principal plus interest. How much did he initially borrow?

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Qadri Mohammedi borrowed money from Silver City National Bank and agreed to repay the entire amount plus interest for six monhts at the annual rate of 8-1/4%. On the due date, he paid $7,549.06 to cover principal plus interest. How much did he initially borrow?






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