Scott borrowed money from a credit union for 3 years and was charged simple interest at an annual rate of 6% . The total interest that he paid was $90 . How much money did he borrow?

Interest = Principal * Rate * Time We know that the interest is $90, the rate is 6% (or 0.06), and the time is 3 years. Let's denote the principal amount as P. $90 = P * 0.06 * 3 Simplifying the equation: $90 = 0.18P Dividing both sides of the equation by 0.18: P = $90 / 0.18 P = $500 Therefore, Scott borrowed $500 from the credit union.