This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%? (Read 190 times)

AEWBW

  • Hero Member
  • *****
  • Posts: 579
on: Jun 6, 2019

Question 1

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?
◦ 2.64%
◦ 4.52%
◦ 3.48%
◦ 4.38%
◦ 7.75%

Question 2

The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%?
◦ 9 months
◦ 12 months
◦ 7 months
◦ 8 months
◦ 4 months
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by AEWBW on Jun 6, 2019

T4T

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


AEWBW

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 6, 2019
Thanks


T4T

  • Sr. Member
  • ****
  • Posts: 348
Reply #3 on: Jun 6, 2019
Welcome :)


Rahul Sharma

  • Newbie
  • *
  • Posts: 1
Reply #4 on: Feb 14, 2022
Thankyou


« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Long-Term Potentiation Long-Term Potentiation
Situations Causing Changes in Respiratory Rate Situations Causing Changes in Respiratory Rate
How to calculate present value using the compound interest formula (Question 1) How to calculate present value using the compound interest formula (Question 1)
Full-term Twin Full-term Twin
What rate, compounded once every 3 years, is equivalent to 9% effective rate? What rate, compounded once every 3 years, is equivalent to 9% effective rate?
Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ... Irene Manufacturing uses a predetermined overhead allocation rate based on a percentage of ...
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library