Question
7. Use the ordinary interest method to compute the time (in days & years) for the loan. Round your answer up to the next highest
7. Use the ordinary interest method to compute the time (in days & years) for the loan. Round your answer up to the next highest day when necessary.
A.
| Principal | Rate (%) | Time | Interest |
|---|---|---|---|
| $7,100 | 10.4 | ____days | $225 |
B.
| Principal | Rate (%) | Time | Interest |
|---|---|---|---|
| $25,000 | 8.1 | _____years | $10,125 |
C. Carlos takes out a loan for $10,300, at 8% ordinary interest. If the amount of interest is $329.60, what is the time period (in days) of the loan? Round any fraction to the next higher day.
____days
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The Future Of Money How The Digital Revolution Is Transforming Currencies And Finance
Authors: Eswar S. Prasad
1st Edition
0674258444, 978-0674258440
