Posted by Shadow of me on .
Term of Loan/Date of Loan using Banker's Rule?
I need helps in solving this question. I have to submit it by today.Tq
On 4 Oct 2010, Alia paid $8200 for his loan of $8000 made on a certain date. If the simple interest rate was 5%, determine:
a)the term of the loan
b)the date of the loan using Banker's Rule