Posted by **Shadow of me** on Thursday, June 30, 2011 at 4:24am.

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

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