Homework Help: Intrest problem

Posted by Scott on Saturday, March 8, 2008 at 6:14pm.

Abe Wolf bought a new kitchen set at sears. Abe paid off the loan after 60 days with an intrest change of 9 dollars. If sears charges 10% interest, what did Abe pay for the Kitchen set Assume 360 days

Intrest problem - Reiny, Saturday, March 8, 2008 at 6:35pm
In this case you don't know the P in
I = PRT , so let's sub in what we know

9 = P(.10)(60/360)
9*360/(.10*60) = P
P = 540

Answer this Question

Related Questions

business math - abe wolf brought a new kitchen set at sears. abe paid off the ...
Intrest Problem - Shawn Bixby borrowed 17000.00 on a 120-day, 12% note. After 65...
Intrest - On Sept 14 Jennifer Rick went to park bank to borrow 2500.00 at 11 3/4...
simple intrest - ON September 14th Jennifer Rick went to a park bank to borrow ...
Simple Intrest - ON September 14th Jennifer Rick went to a park bank to borrow ...
business/math - what is the answer to: you obtain a margin loan of 18000 to ...
Please help! - If your bank paid simple intrest Of 4.25% compounded annually ...
finances - a friend barrowed $5,000.00. I charged him 12 percent intrest. he ...
Intrest Problem - Carol Miller went to Europe and forgot to pay her 740.00 ...
Algebra - Abe and Sal left at the same time. They traveled in opposite ...

For Further Reading

First Name:
School Subject:
Answer: