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forsale [732]
2 years ago
8

The interest paid on a $8,000 loan is $600, a rate of 4%

Mathematics
1 answer:
weeeeeb [17]2 years ago
7 0

It took 1.9 years to pay back the loan.

<h3>What is Interest ?</h3>

Interest is the amount of money given or received when a certain sum of amount is received as a loan or given or deposited for investment.

It is given that

Principal amount of loan = $ 8000

Interest paid = $ 600

Rate = 4%

Time Period = ?

Assuming Simple Interest has been applied

I = ( P* R* T) /100

600 = ( 8000 * 4 * T ) / 100

60000 = 8000 * 4 * T

T = 1.875 years

T = 1.9 years rounded to 1 decimal

T = 22.5 months

Therefore it took 1.9 years to pay back the loan.

To know more about Interest

brainly.com/question/13324776

#SPJ1

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iragen [17]

The order to us solve is:

  1. Parentheses
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Let's go:

25(1.2\times 3 - 1.25) + 3.45\\25(3.6-1.25)+3.45\\25\times 2.35 + 3.45\\58.75+3.45\\62.2

Therefore, the result is 62.2.

7 0
2 years ago
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Money is borrowed at 15% simple interest. After one year,$1181.05 pays off the loan. How much was originally borrowed?
marin [14]

Answer: $787 was originally borrowed.

Step-by-step explanation:

The formula for determining simple interest is expressed as

I = PRT/100

Where

I represents interest paid on the loan.

P represents the principal or amount taken as loan

R represents interest rate

T represents the duration of the loan in years.

From the information given,

Total amount = $1181.05

Interest = total amount - principal

I = 1181.05 - P

R = 15%

T = 1 year

Therefore,

1181.05 - P

Therefore,

1181.05 - P = (P × 15 × 1)/100

1181.05 - P = 0.15P

P + 0.15P = 1181.0

1.5P = 1181.05

P = 1181.05/1.5

P = $787

5 0
2 years ago
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seropon [69]

Answer:

62 is the answer.

Step-by-step explanation:

I hope this helps you.

8 0
2 years ago
How do you calculate 3x-9y?
Illusion [34]

Answer: 3(x-3y)

Step-by-step explanation: first you have to take the 3x and split it up so it can make 3(x-3y) then you have to rewrite it to -9 as 3x3 and then factor out common term 3 which would be your final answer 3(x-3y)

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Answer:

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