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Author Question: The interest earned on a $6000 investment was $240. What was the term in months if the interest rate was 6%? (Read 259 times)

AEWBW

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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
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Marked as best answer by AEWBW on Jun 6, 2019

T4T

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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.
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AEWBW

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Reply #2 on: Jun 6, 2019
Thanks


T4T

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Reply #3 on: Jun 6, 2019
Welcome :)


Rahul Sharma

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Reply #4 on: Feb 14, 2022
Thankyou


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