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March 25, 2017

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find the simple interest. Assume a 360-day year and a 30-day month. 18000 at 5%; loan made on September 12 and due November 27.

  • simple interest - ,

    The length of the loan is 45 days. That is 1.5 months (1/8 year). The simple interest owed would be
    18,000*[(0.05)/8]
    = 112.50

  • simple interest - ,

    Felicia invested money at an interest rate of 4% after six months ,she had earned 90.00 interest ,how much money did Felicia invest

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