Wednesday

October 1, 2014

October 1, 2014

Posted by **Thara** on Wednesday, July 22, 2009 at 7:55pm.

- math(simple interest) -
**MathMate**, Wednesday, July 22, 2009 at 8:13pmAssume simple interest rate of 7.25% p.a. and three equal payments of $x.

Future value of capital after 300 days

= 9000*(1+300/365*0.0725)

Future value of 3 equal payments made at 60, 180 and 300 days

= x + x*(1+180/365*0.0725) + x*(1+240/365*0.0725)

Equating the two and solving for x,

x=$88954047/28762= $3,092.76

- math(simple interest) -
**Anonymous**, Monday, April 15, 2013 at 3:36pm2.53

- math(simple interest) -
**sheila**, Friday, April 26, 2013 at 7:45am25,000 at 12.35 x18months

**Answer this Question**

**Related Questions**

Simple Interest - A $4000 loan made at 11.75% is to b repaid in three equal ...

math - gail borrowed $3600 from a bank to buy a washing machine she pays back ...

compund interest - Payments of $1800 and $2400 weere made on a $10,000 variable-...

Compound Interest - Payments of $1,800 and $2,400 were made on a $10,000 ...

Compound Interest : Future Value and Present Value - Payments of $1800 and $2400...

college math - A $8700 personal loan at 5.5% compounded monthly is to be repaid ...

college math - A $8700 personal loan at 5.5% compounded monthly is to be repaid ...

business math - you take out a loan for $20,000 simple interest loan at 4% on ...

college math - a math student borrowed $9300.00 from his local bank at 7% ...

Loan - Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple ...