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 188 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?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Influence of enzyme-substrate affinity on the rate of an enzyme-catalyzed reaction. Influence of enzyme-substrate affinity on the rate of an enzyme-catalyzed reaction.
Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ... Long-term Potentiation in the granule cell layer of the rat hippocampal dentate gyrus. (Traces ...
How to calculate credit card interest when the interest is compounded How to calculate credit card interest when the interest is compounded
The term “natural,” when used on the packaging of meat and poultry The term “natural,” when used on the packaging of meat and poultry
Outgroup role in relative rate test Outgroup role in relative rate test
Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ... Nine $10 000, 4% bonds with interest payable semi-annually and redeemable at par are purchased ...
Video: Introduction to filtration - filtrate formation and composition

For a complete list of videos, visit our video library