Question
Legitimate Financial Services made a loan at 9.75% interest for 254 days. If the amount of interest was $270.50, use the exact interest method to find the amount of principal borrowed. (Round to the nearest whole dollar amount)
Group of answer choices
Group of answer choices
Answers
I = Po*r*T = 270.50
Po*0.0975*(254/365) = 270.50.
Po =
Po*0.0975*(254/365) = 270.50.
Po =
Related Questions
The tooal amount of interest on a loan of 6,000 for 150 days is 210.50.using the ordinary interest(3...
Jefferson Bank made a loan at 6% interest for 146 days. If the amount of interest was $36.50, use th...
State Bank made a loan at 12% interest for 360 days. If the amount of interest was $934.20, use the...
​State Bank made a loan at 12% interest for 360 days. If the amount of interest was $934.20, use the...