Saturday

April 18, 2015

April 18, 2015

Posted by **Sabrina** on Wednesday, July 11, 2007 at 9:02pm.

Hummm. With simple interest, a rate of 10% on $680, in one month the balance would be 680*(1+(0.1/12)) = 685.66666. Ergo, the monthly payment would be 5.66666. So then number of months to make 671.5 would be (671.5/5.66666) = 118.5

**Answer this Question**

**Related Questions**

Math Business - Janet got 671.50 in cash as the proceeds form a loan of $680. ...

business Math - Carl Sonntag wanted to compare what proceeds he would receive ...

math - 1. A 120-day simple discount promissory note for $12,000 with a simple ...

business Math - You were offered the opportunity to purchase either a simple ...

math/Finance - I want to know the formula to use 1. A 120-day simple discount ...

Math Help!!!!! - 4) Jim has been offered a substantial cash discount if he pays ...

math - Home health signed a 90,000 note at 11 1/2% simple interest for 180 days ...

math - what is the effective interest rate of a simple discount note for $2700 ...

Finance - Can anyone explain to me how to use this formula? Cost of failing to ...

algebra - Stephanie Venze signed a simple discount note for $3400 for 120 days ...