Friday
March 24, 2017

Post a New Question

Posted by on .

Ms. Pecho currently owes $637.50 simple interest on a loan of $2500 at a anual inteest ate of 17%. How long has she had the loan?

  • Algera - ,

    Hint:
    Simple interest
    =Prt
    P=principal (what was borrowed)
    r=rate of interest, 0.17=17%
    t=time in years (for yearly interest rate)

    I think she should negotiate a bank load at a lower interest than that.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question