math

gail borrowed $3600 from a bank to buy a washing machine she pays back the loan in 24 monthly instalments at a simple interest rate of 2% a)calculate the simple interest on the loan b)the total amount to be repaid c)if gail repays the loan in 24 equal instalments ,find the sum she pays for each instalments (hint interest is included in the instalment)

  1. 👍 0
  2. 👎 0
  3. 👁 71
asked by John
  1. I = PRT

    I = 3600 * 0.02 * 2

    I = 144

    (3600 + 144)/24 = ?

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Steven borrowed $5000.00 from bank a for a 3% per annum for 3 years Fred borrowed $5000.00 from bank b for a 4% for 2 years who pays more interest on his loan

    asked by ryan on February 23, 2016
  2. English

    Can you check if my instructions on how to do the washing and the washing-up are correct? Thank you very much. When you do the washing, you sort the clothes, put them into the washing machine, insert the washing powder into the

    asked by Mike on March 18, 2011
  3. Math

    This task is about choosing a new washing machine. Your washing machine is broken. You need a new one. The new washing machine must hold at least as much as the old one and spin at least as fast as the old one. You used your old

    asked by Z on August 16, 2016
  4. math

    A bank charge 7.5% simple interest per year.Susie takes out a loan from this bank for 3 years.she pays a total of 1867.50 interest per year,how much she borrowed?

    asked by peter madison on July 29, 2018
  5. Math

    - Anurag is buying a house for $100,000 and needs a mortgage loan. Bank A wants him to repay the loan in 240 months with monthly payment of $600.72. Bank B wants him to repay the loan in 360 months with a monthly payment of

    asked by Lil on May 17, 2016
  6. Math

    Jean borrowed $1300 to buy tools for her job as an auto mechanic. The loan is for 1 year 6 months at 9% simple interest. Find the amount she will pay back at the end of the loan period.

    asked by Anonymous on April 24, 2019
  7. Algebra 1

    The marketing director of a department store interviewed 50 customers who had bought appliances the previous week. They found that 20% of the customers bought a washing machine and 40% bought a dishwasher. Also 48% of the

    asked by Sharon on May 14, 2014
  8. math

    megan borrows £5000 to buy a cat at a rate of 8% over 3 years. how much does she have to pay over the three years? if she pays the loan back every month over three years ,how much is her monthly payment? if there was an

    asked by shahd on November 10, 2015
  9. maths

    megan borrows £5000 to buy a cat at a rate of 8% over 3 years. how much does she have to pay over the three years? if she pays the loan back every month over three years ,how much is her monthly payment? if there was an

    asked by shahd on November 10, 2015
  10. math

    Janet Home went to Citizen Bank. she borrowed $7000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back how much

    asked by Natasha on February 27, 2017

More Similar Questions