A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

anonymous

  • 5 years ago

Find the total amount that must be repaid on the following note. Assume the number of days in a year is n = 360. $8078 borrowed at 12.5% simple interest What is the total amount to be repaid 4 years, 80 days later? (Give your answer to the nearest cent.

  • This Question is Closed
  1. amistre64
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    simle interest being that it is compounded once a year?

  2. amistre64
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    I = Prt

  3. amistre64
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    (1009.75) * (time) if you can figure out what they mean by "time" your set :)

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

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.