I = Ab*r*t=749.25*(0.12/360)*120 = $29.97
Ar = Ab-I=749.25 - 29.97=$719.28 = Amount received(proceeds).
I = Interest.
Ab = Amt. borrowed.
Ar = Amt. received.
Find the interest in dollars and the proceeds for the following problem. Choose the correct answer.
Sue Shopper received a $749.25 discount loan to purchase a refrigerator. The loan was offered at 12% for 120 days. Find the interest in dollars and the proceeds for the following problem.
The interest is $ .
The proceeds are $ .
3 answers
Find the interest in dollars and the proceeds for the following problem. Choose the correct answers.
Tim Tele received a $380 discount loan to purchase a DVD player. The loan was offered at 18% for 60 days. Find the interest in dollars and the proceeds for the following problem.
The interest is $ .
The proceeds are .
Tim Tele received a $380 discount loan to purchase a DVD player. The loan was offered at 18% for 60 days. Find the interest in dollars and the proceeds for the following problem.
The interest is $ .
The proceeds are .
Tim Tele received a $380 discount loan to purchase a DVD player. The loan was offered at 18% for 60 days. Find the interest in dollars and the proceeds for the following problem.
2 answers