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Author Question: What is the interest rate on a 240-day loan for 3,000 which accrues 220 in ordinary simple interest? ... (Read 180 times)

danielfitts88

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on: Jun 24, 2018
What is the interest rate on a 240-day loan for 3,000 which accrues 220 in ordinary simple interest?
 A) 9
  B) 10
  C) 11
  D) 12

Question 2

What is the maturity value of a 6-month loan for 2,500 at 13 ordinary simple interest?
 A) 2,642.47
  B) 2,662.50
  C) 160.27
  D) 162.50


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ASDFGJLO

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Reply #1 on: Jun 24, 2018
Answer to Question 1

C

Answer to Question 2

B


danielfitts88

  • Member
  • Posts: 535
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

Liddy

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  • Posts: 342
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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