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Author Question: You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%, or 1% a ... (Read 215 times)

eruditmonkey@yahoo.com

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You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%, or 1% a month. If the first payment is $300, how much is the principal portion of the payment?


◦ $27
◦ $270
◦ $280
◦ $295


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Marked as best answer by eruditmonkey@yahoo.com on Apr 14, 2019

flexer1n1

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eruditmonkey@yahoo.com

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Reply 2 on: Apr 14, 2019
Wow, this really help


AISCAMPING

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Reply 3 on: Yesterday
Excellent

 

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