Intrest problem

posted by .

Abe Wolf bought a new kitchen set at sears. Abe paid off the loan after 60 days with an intrest change of 9 dollars. If sears charges 10% interest, what did Abe pay for the Kitchen set Assume 360 days

  • Intrest problem -

    In this case you don't know the P in
    I = PRT , so let's sub in what we know

    9 = P(.10)(60/360)
    9*360/(.10*60) = P
    P = 540

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Intrest

    Carol Miller went to Europe and forgot to pay her 740 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penality of 15 dollars. What was the rate of intrest charged by the …
  2. Intrest Problem

    Carol Miller went to Europe and forgot to pay her 740.00 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penalty of 15 dollars. What was the rate of intrest charged by …
  3. business math

    abe wolf brought a new kitchen set at sears. abe paid off the loan after 60 days with as interest of $9. if sears charges 8% interest. What dis abe pay for the kitchen set (assume 360 days)
  4. Algebra

    Abe and Sal left at the same time. They traveled in opposite directions. Sal traveled 50mph faster than Abe. After four hours, they were 400 miles apart. Find Abe's speed.
  5. Business Math

    Abe Wolf bought a new kitchen set at Sears. Abe paid off the loan after 64 days with an interest charge of $12. If Sears charges 9% interest. What did Abe pay for the kitchen set (assume 360 days
  6. business mat

    Abe Wolf bought a new kitchen set at Sears. Abe paid off the loan after 60 days with an interest charge of $9. If Sears charges 10% interest. What did Abe pay for the kitchen set?
  7. business Math

    Abe Wolf bought a new kitchen set at Sears. Abe paid off the loan after 60 days with an interest charge of $9. If Sears charges 10% interest. What did Abe pay for the kitchen set?
  8. Math

    You borrow $3200 to buy new kitchen appliances. The simple interest rate is 5%. You pay the loan off after 4 years. What is the total amount you paid for the loan?
  9. physics

    The hood ornament of Abe's car is shaped like a ring 0.06m in diameter. Abe is driving toward the west so that the earth's 5.0x10^-5 T field provides no flux through the hood ornament. What is the induced voltage in the metal ring …
  10. physics

    The hood ornament of Abe's car is shaped like a ring 0.06m in diameter. Abe is driving toward the west so that the earth's 5.0x10^-5 T field provides no flux through the hood ornament. What is the induced voltage in the metal ring …

More Similar Questions