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

Author Question: What is the interest rate on a 240-day loan for 3,000 which accrues 220 in ordinary simple interest? ... (Read 179 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ASDFGJLO

  • Sr. Member
  • ****
  • Posts: 335
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
Thanks for the timely response, appreciate it

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Relatively simple changes in Hox genes control limb formation in tetrapods. Relatively simple changes in Hox genes control limb formation in tetrapods.
Rate enhancement by entropy reduction Rate enhancement by entropy reduction
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.
Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ... Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ...
How to calculate compound interest (Part 2) How to calculate compound interest (Part 2)
Simple Decorating Techniques: Side masking Simple Decorating Techniques: Side masking
Video: Appendicitis Animation

For a complete list of videos, visit our video library