Ask a New Question
Search
what was the interest rate on the loan for $50,000 if the interest amounted to $4500 for 9 months
1 answer
assuming simple interest,
50000*(3/4)*r = 4500
r = 4/3 * 4500/50000 = .12 or 12%
Similar Questions
Over a three-year period, the total interest paid on a $4500 loan was $1620. What was the interest rate?
1 answer
the total amount of interest on this loan of $6000 for 150 days is $210.50.
what is the rate of interest on this loan? If not
3 answers
Elliot borrows $900 to buy an appliance at a yearly simple interest rate. He takes
3 years to pay off the loan and interest. He
1 answer
1)An interest rate is a special type of?
a. loan b. price c. bank d. service 2) How does a compound interest rate differ from a
14 answers
more similar questions