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Note: Please solve all three parts (A, B &C). A. Calculate the principal for the following loans. Use ordinary interest when the time is indicated
Note: Please solve all three parts (A, B &C).
A. Calculate the principal for the following loans. Use ordinary interest when the time is indicated in days. Principal Rate(%) Weather Interest 1 9 2 8.6 9 months 90 days 1 'years $3,000 $ 4,950 $ 675 3 9 B. Calculate the rate for the following loans. Round answers to the nearest tenth of a percent; use ordinary interest when the time is indicated in days. Rate(%) Interest 4 $ 35 Principal $ 1,800 $ 48,000 $ 125,000 Weather 5 months 60 days 2 years 5 $ 728 6 $ 18,750 C. Use the ordinary interest method to calculate the time of the following loans. Round the answers to the next higher day when necessary. Rate(%) 10.4 7 Principal $ 7,900 $ 4,500 $ 25,000 Weather 5 months 60 days 2 years Interest $ 228 $ 375 8 9 9 8.9 $ 4,450Step by Step Solution
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