19. If the 3% interest accrued on a loan was 210 what was the loan amount?

## Step 1: Convert Percentage to Decimal<br />### Convert the interest rate from percentage to decimal by dividing by 100. $3\% = \frac{3}{100} = 0.03$<br /><br />## Step 2: Set up the Interest Formula<br />### The formula for simple interest is $I = Prt$, where $I$ is the interest, $P$ is the principal (loan amount), $r$ is the interest rate, and $t$ is the time. We are given $I = \$210$, $r = 0.03$, and $t=1$ (assuming 1 year since the time is not specified). We need to find $P$.<br /><br />## Step 3: Solve for the Principal<br />### Substitute the given values into the formula and solve for $P$:<br />$210 = P \cdot 0.03 \cdot 1$<br />$210 = 0.03P$<br />$P = \frac{210}{0.03}$<br />$P = 7000$