1. I = Po*r*t = 1200*(0.105/12)*3.
2. P = Po + Po*r*t.
P = 1200 + 1200*0.0775*2 =
3. 100%-20% = 80% financed.
Po = 0.80 * 69,500 =
1) Carmen borrowed $1,200 for three months at 10.5% interest. How much interest did she pay for the loan?
2)Zack deposited $1,200 in a savings account that paid 7.75% simple interest. What was the balance in his account at the beginning of the third year?
3)Dan and Dawn purchased a house for $69,500. They had to make a down payment of 20%. How much was the amount of the mortgage they obtained?
1 answer
1 answer