Question: How do I solve this two part problem ? Find the simple interest I of the given loan amount. (Round your answers to the nearest

How do I solve this two part problem ?

Find the simple interest I of the given loan amount. (Round your answers to the nearest cent.) (a) $5,662 borrowed at 11-% from July 1 to December 31 of the same year I = $ (b) $5,662 borrowed at 11-% from July 1 through December 31 of the same year I = $ Need Help? Read It Watch It Submit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

LEARNING COMPETENCIES After studying this module, you will be able to do the following: Find the amount of simple and compound interest; Ascertain exact, ordinary interest, maturity value, and simple...

Do questions 19, 23,27 In Exercises 1520, the principal P is borrowed and the loan's future value, A, at time t is given. Determinethe Joan's simple interest rate, r, to the nearest tenth oft:...

Find the simple interest for each of the following. Round to the nearest cent. 1. $12,500 at 10 % simple interest for 280 days. 2. $8250 at 9% simple interest for 8 months. 3. A loan of $6000 at 11%...

Essay Assignment (40 points) Your Assignment is to write an essay discussing the financing of a new car for your business. The price of the used car is $22,500. Sales tax on this car is 9% of the...

Directions: Analyze the given lesson below. After that, solve and fill in the blanks what is missing. GEN MATH TERMINOLOGIES QUESTION? If you have P10,000 where will you invest 1. COMPOUND INTEREST (...

(A) Find the simple interest I of the given loan amount. ( Round your answer to the nearest cent.) $3,000 borrowed at 6% for three years I = (B) Find the future value FV of the given present value. (...

A) Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.) $2,267 borrowed at 12 1/8 % from March 10 through December 20 of the same year FV = $ b) Ernie Bilko...

Table to question 2 1.A loan of $1000 at 30% is compounded monthly for one year Find the future value and compound interest. Use the $1.00 future value table or the future value and compound interest...

A. Simple Interest Find the simple interest for each of the following. Round to the nearest cent. 1. $12,500 at 10 % % simple interest for 280 days. 2. $8250 at 94% simple interest for 8 months. 3. A...

1) Find the future value FV of the given present value. (Round your answer to the nearest cent.) Present value of$3,690at 2 34% forsixyears FV = $ ____ 2) Find the future value FV of the given...

Among n babies born in a certain city, 51% were boys.28 Suppose we want to test the hypothesis that the true probability of a boy is 1/2. Calculate the value of x2s, and bracket the P-value for...

Suppose that Princess Cruise Lines would like to determine if the satisfaction rating of a customer is related to the number of cruises the person has taken with the company. The following table...

What can affect the performance of a network?

2023 1040 form 1.Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent...