Assuming that the 11.5% interest rate is an annual rate --
1200 * 0.115 = 138
138 * 0.25 = 34.50
$1200 + 34.50 = ?
Jan borrowed $1,200 at 11.5% interest for three months. How much
does she have to repay under a single-payment plan?
4 answers
Tonya took out a loan to help pay for her house. She borrowed $60,000 for 15 years at a yearly simple interest rate of 5%. How much interest will she end up paying the bank?
interest= 45000
how well ok
borrowed= 60,000 rate=5% time=15 years
I= brt I= 60,000 * 5 * 15
--- ---------------
100 100
I= 4,500
that's your answer
how well ok
borrowed= 60,000 rate=5% time=15 years
I= brt I= 60,000 * 5 * 15
--- ---------------
100 100
I= 4,500
that's your answer
PRT SI 1200*8*2*100 answer 192
8 answers