Find the simple interest due on a 270-day loan of $20,000 at an interest rate of 8.875%
1 answer:
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Answer:
6
Step-by-step explanation:
From the Trapezoid attached :
EF = GT
FG = LA
LE = AT = 10
LA = 24 ; FG = 24
FG + EF + GT = 40
Let : EF and GT = x
FG + 2x = 40
24 + 2x = 40
2x = 40 - 24
2x = 16
x = 16 ÷ 2 = 8
Hence, EF = GT = 8
Using Pythagoras :
Opposite² = hypotenus² - Adjacent²
LF² = LE² - FE²
LF² = 10² - 8²
LF² = 100 - 64
LF² = 36
LF = √36
LF = 6
