1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kotegsom [21]
3 years ago
6

Harry church borrowed 17,500.00 at 6.5% exact interest. He had to pay back a maturity value of 17,873.97 to pay off the loan. Wh

at was the term of the loan
Mathematics
1 answer:
kirill [66]3 years ago
3 0

Answer:the term of the loan is approximately 4 months

Step-by-step explanation:

The term of the loan means the period for which the loan was given.

We would apply the formula for simple interest which is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

P = 17500

R = 6.5%

I = total amount paid - principal

I = 17,873.97 - 17,500.00 = 373.97

Therefore

373.97 = (17500 × 6.5 × T)/100

373.97 = 1137.5T

T = 373.97/1137.5

T = 0.32 years

Converting to months, it becomes

0.32 × 12 = 3.84

Approximately 4 months.

You might be interested in
What is the median for 252,210,264,278,208,295,248,257,284,271....expressed to the nearest tenth.
babymother [125]

Answer:

260.5

Step-by-step explanation:

7 0
3 years ago
Which of the following is the correct graph of the solution to the inequality −8 greater than or equal to −5x + 2 > −38? (1 p
Svetlanka [38]

The inequality should read:

-8 \geq -5x + 2 > -38

Subtract 2 from all the terms:

-10 \geq -5x > -40

Divide all the terms by -5 to get x by itself (note that you flip the inequality signs as you divide by a negative):

\boxed{2 \leq x < 8}

The inequality is 2 ≤ x < 8.

A closed dot represents ≤, and an open dot represents <. Since x can represent all values between 2 and 8, you will shade in between 2 and 8 on the number line. x is greater than or equal to 2, so there will be a closed dot on 2. x is less than 8, so there will be an open dot on 8.

The answer is 'number line with a closed dot on 2 and an open dot on 8 and shading in between'.

5 0
2 years ago
Read 2 more answers
A single die is rolled twice. Find the probability of rolling an
Nady [450]

Answer: 1/6

Step-by-step explanation:

A die has 6 numbers which are 1, 2, 3, 4, 5 and 6.

Odd numbers in a die = 1, 3 and 6

Numbers greater than 4 = 5 and 6

Probability of rolling an odd number = 3/6 = 1/2

Probability of rolling a number greater than 4 = 2/6 = 1/3

We then multiply both values gotten. This will be:

= 1/2 × 1/3

= 1/6

Therefore, the probability of rolling an odd number the first time and a number greater than 4 the second time is 1/6.

6 0
2 years ago
Write a unit rate for the situation. Round to the nearest hundredth if necessary.
Paraphin [41]
2 hr and 45 minutes is = to 165min, so do 140 divided by 165, and you will get 0.8484miles per minute, which is D
4 0
3 years ago
Read 2 more answers
The sum of the ages of two people is 32. The difference is their ages is 4. What is the age of the younger person ?
Gala2k [10]
I believe the answer is 12
5 0
2 years ago
Read 2 more answers
Other questions:
  • An engineer performs a flow test of a cooling water system. The test equipment hooks into flow elements in the system. There are
    9·1 answer
  • A swimming pool has an area of 40 square meters. It’s length is 8 meters. What is the width?
    5·1 answer
  • The population of Clairette
    6·1 answer
  • Which set of coordinates is a solution of the inequality, y&lt;2
    15·1 answer
  • If 3 cooking spoons cost 12 dollars,<br> how much do 16 cooking spoons cost?
    10·1 answer
  • What are the coordinates of the point 3/4 of the way from<br> A(-6, -3) to B(10, 9)?
    15·1 answer
  • A student wants to know how far above the ground the top of a leaning flagpole is. At high​ noon, when the sun is almost directl
    11·1 answer
  • Please help and explain you answer please!
    11·2 answers
  • Need urgent help with this, please!!! second part on my profile, PLEASE IT'S URGENT!!
    8·1 answer
  • Question 7 of 10
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!