anonymous
  • anonymous
can someone help me? Mortgage is $740 monthly was 59 days late bank charged 15.00 what was the rate is interest assuming simple interest. round to nearest hundredth
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
SI = (P*R*T)/100 Therefore R = (SI * 100)/(P*T) P = $740 SI = 15 T = 59/30 (Assuming 30-day months) This will solve for the monthly interest rate.
anonymous
  • anonymous
not enough info. need the loan amount, the term. with the information given it is around 2%.

Looking for something else?

Not the answer you are looking for? Search for more explanations.