Tuesday

October 21, 2014

October 21, 2014

Posted by **Anonymous** on Wednesday, September 18, 2013 at 3:59pm.

Using the scenario from the previous question, determine the maturity date of the loan.

- Business Math -
**Henry**, Saturday, September 21, 2013 at 7:52pmI = 2600-2000 = $600

I = Po*(0.06/360)*t = 600

2000*(0.06/360)*t = 600

0.333t = 600

t = 1800 Days = 5 yrs(Assuming 360 days/yr)

**Answer this Question**

**Related Questions**

math - Alicia Eastman deposited $2,000 in a savings account at the Biltmore ...

math - Alicia Eastman deposited $2,000 in a savings account at the Biltmore Bank...

math - Alicia Eastman deposited $2,000 in a savings account at the Biltmore Bank...

math - Alicia Eastman deposited $2,000 in a savings account at the Biltmore Bank...

Business Math - Alicia Eastman deposited $2,000 in a savings account at the ...

Business math - Alicia deposited $2000 into saving. The bank pays 6% ordinary ...

Math - (a) Themba wants to deposit a sum of money into a savings account so that...

Business Algebra - Part I: As a financial planner a client comes to you for ...

algebra HELP ASAP - If $13,000 is deposited in a bank account paying 6% ...

Math - If you deposit P dollars into a bank account paying an annual interest ...