Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A business takes out a simple interest loan of $10,000 at a rate of 7.5% what is the total amount of the business will

 

A business takes out a simple interest loan of $10,000 at a rate of 7.5% what is the total amount of the business will repay if the loan is for 8years? A total of $1,200 is invested at a simple interest of 6% for 4 months. how much interest is earned on this invested?

Step by Step Solution

3.49 Rating (166 Votes )

There are 3 Steps involved in it

Step: 1

To determine the total amount of the loan that the business will repay you can ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance Turning Money into Wealth

Authors: Arthur J. Keown

7th edition

978-0133856507, 013385650X, 133856437, 978-0133856439

More Books

Students also viewed these Accounting questions

Question

What is the total amount removed from Joshua's estate in 2014?

Answered: 1 week ago