Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. A commercial bank charges 9% interest for a 120-day loan, the exact interest amount is 264. How much is the principal amount?
4. A commercial bank charges 9% interest for a 120-day loan, the exact interest amount is 264. How much is the principal amount?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started