Posted by **Bob** on Wednesday, September 21, 2011 at 12:31am.

Joyce took out a loan for $21,900 at 12 percent on March 18, 2007, which will be due on January 9, 2008. Using ordinary interest, Joyce will pay back on Jan. 9 a total amount:

- Business Math -
**Henry**, Thursday, September 22, 2011 at 6:56pm
The length of the loan = 9mo.and 21 days:

t = 9 21/30 mo = 9.7 mo. = 0.81 yr.

A = Po + I,

A = 21,900 + 21,900*0.12*0.81,

A=21,900 + 212430=$24,024.30 Amt.paid.

## Answer this Question

## Related Questions

- Business Math - 13. Joyce took out a loan for $21,900 at 12 percent on March 18...
- math - Joyce took out a loan for $21,900 at 12 percent on March 18, 2007, which ...
- math - Joyce took out a loan for $21,900, at 12 percent, on March 18, 2007, ...
- business math - Joyce took out a loan for $ 21,900 at 12 percent on March 18, ...
- Business Math - Joyce took out a loan for $21,900 at 12 percent on March 18, ...
- nassau - Mel took out a loan of $40,000 at 14 percent on March 16, 2007 which is...
- business math - Janet Home went to Citizens Bank. She borrowed $7,000 at a rate ...
- math - Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 ...
- math - Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 ...
- business math - Jnaet took out a loan of $50,000 from Bank of America at 8 ...