Question
If you borrow $7500 at $400 interest for once a year, what is your annual interest cost for the following payment plan?
Annual payment?
Semi annual payment?
Annual payment?
Semi annual payment?
Answers
mathhelper
This question makes no sense to me.
You just told me the interest for one year is $400, and then you ask
what the annual interest cost is.
Is this simple or compound interest?
You just told me the interest for one year is $400, and then you ask
what the annual interest cost is.
Is this simple or compound interest?