If interest on a $4,500 loan is $ 720 What would be the interest on a loan $5,800
Assuming the same rate and the same time:
amount/5800 = 720/4500
amount = 5800(720/4500) = 928
Gary produces 52 more than 4times what Harold can produce in one day . If Gary's total production for the day is 202 how much does Harold produce in one day.
To calculate the interest on a loan, we need to know the interest rate. Without knowing the interest rate, we cannot determine the exact interest amount on a loan of $5,800. However, if we assume that the interest rate remains the same, we can make an estimation using proportions.
Let's set up a proportion to find the estimated interest on a loan of $5,800, assuming the interest rate remains constant:
Interest on the first loan / Amount of the first loan = Interest on the second loan / Amount of the second loan
Using the given information, we can set up the proportion:
$720 / $4,500 = x / $5,800
To find the estimated interest on the loan of $5,800, we need to solve for 'x' in the above proportion.
Cross-multiplying, we get:
($720) x ($5,800) = ($4,500) x (x)
41,760 = 4,500x
Dividing both sides by 4,500:
41,760 / 4,500 = x
x ≈ $9.28
Therefore, estimated interest on a loan of $5,800 would be approximately $9.28. However, keep in mind that this is only an estimation, and the actual interest amount may vary depending on the interest rate. It is always best to contact your lender or check the loan terms for accurate information.