Robert borrowed a certain amount of money for 626 days at an annual simple interest rate of
Fantastic news! We've Found the answer you've been seeking!
Question:
Robert borrowed a certain amount of money for 626 days at an annual simple interest rate of 4.7%. If the maturity value on the loan was $3,378, how much did he borrow?
Lindsay borrowed a certain amount of money for 5 years at an annual simple interest rate of 7%. If the maturity value on the loan was $3,800, what was the total amount interest she paid on the loan?
Kenneth borrowed a certain amount of money for 25 months at an annual simple interest rate of 6.1%. If the maturity value on the loan was $5,917, what was the total amount interest he paid on the loan?
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Posted Date: