Ask a New Question
Search
Asked by
Fishy
Hamish borrowed $5000 for 3 years. He paid $1650 simple interest. What was the rate of interest per annum?
Answers
Answers
Answered by
Kuai
r = I/pt *100
r = 1650/(5000*3)
r = .11 or 11%
Related Questions
Related
Rebecka borrowed $3500, 5000, 3500,& 4500 from her dad on September 1 of each of four successive yea...
in a marathon, Hamish had to run a total distance of 11/12 mile. he ran 4/5 of the distance. how man...
Susan Borrowed $5000. The term of the loan is 12% compouned monthly for 3 years. what is the month...
Steven borrowed $5000.00 from bank a for a 3% per annum for 3 years Fred borrowed $5000.00 from bank...
Tobin borrowed $5000 from the bank in order to buy a new piano. He will pay it off by equal payments...
A man borrowed RM 5000 from a bank on 1 january 2006. On the last day each month, compound interest...
Max Wholesaler borrowed $5000 on a 12%, 120-day note. After 45 days, Max paid $1750 on the note. T...
Paula borrowed $5000 from her brother Mario. She agreed to repay the money at the end of 5 years, gi...
Paula borrowed $5000 from her brother Mario. She agreed to repay the money at the end of 5 years, gi...
However, Hamish is accused of cheating in the semifinals by one of his opponents. Nell has proof tha...