Ms. Jefferson has been given a loan of $20,000 for 1 year. If the interest charged is $800, what is the interest rate on the loan?4%
2.A saleswoman is working on a 6% commission basis. If she wants to make $2,400 in one month, how much must she sell?$40,000
3.If $7,800 is deposited into an account paying 6% interest compounded annually (at the end of each year), how much money is in the account after 2 years?$8,764.08
math115 - MathMate, Saturday, October 3, 2009 at 1:40pm
1. 4% per annum
2 & 3 correct.