devikaharripersad07 devikaharripersad07

18-03-2021
Mathematics

contestada

A loan of$8000 was repaid in 24 equal monthly installments of $400 . The rate of interest on the loan was

Respuesta :

reeserl reeserl

18-03-2021

Answer:

1%

Step-by-step explanation:

24(400) = 9600 = total amt paid

9600 - 8000 = 1600 = amt of interest paid

I = PRT T = 2 yr

1600 = 8000(2)R

1600 = 16000R

1600/16000 = 1/10 = .01 = 1%

Answer Link

Otras preguntas

Two modern states characterized by Spartan suppression of the individual are: Nazi Germany colonial United States British Monarchy Communist Russia present-day

Were the Aztecs invaders or farmers?

During the 19th century the House of Commons moved away from the monarchy and became: A.independent B.democratic C.anarchists

what inspired europeans to explore the west coast of africa? how did this infuence the developement of the slave trade ?

What's is the smallest power of 10 that would exceed 999,999,999,991?

What is the primary reason that elections are important to democracies? A.Elections prevent most major change in government policies, ensuring stability. B.Elec

What is the answer to 18.9=2.1x

8849.87 and 2919.07 equals in scientific notation

Why did Ferdinand and Isabella want Native Americans and Christians to live together?

What do you call the procedure that helps you determine the volume of an irregularly shaped object, whole using a graduated cylinder? How do you perform the pro