3 years ago

A bank loans $2100 to a business at 7% for 3 months. How much simple interest will the bank earn?

Mathematics

1 answer:

Natali [406]3 years ago

7 0

Answer:

$36.75

Step-by-step explanation:

The amount of interest payable is given by ...

I = Prt = $2100·0.07·(3/12) . . . . . . . . t is in years

I = $36.75

The bank earned $36.75 on the loan.

You might be interested in

If 2000 is placed into a bank account that pays 3% compound interest per year how much will be in the account after 2 years

Margarita [4]

Answer:

Account Balance = Principal x (1 + interest rate (decimal)) number of years, compounded annually.

Step-by-step explanation:

This is based on the information provided: 2121.80 (1.03)2 = 2000 So, on your initial deposit of 2000, you can collect 121.80 in interest after two years.

5 0

3 years ago

How do I find the distance between (-2,5) and (22,12)

jok3333 [9.3K]

$\bf ~~~~~~~~~~~~\textit{distance between 2 points} \\\\ (\stackrel{x_1}{-2}~,~\stackrel{y_1}{5})\qquad (\stackrel{x_2}{22}~,~\stackrel{y_2}{12})\qquad \qquad d = \sqrt{( x_2- x_1)^2 + ( y_2- y_1)^2} \\\\\\ d=\sqrt{[22-(-2)]^2+[12-5]^2}\implies d=\sqrt{(22+2)^2+(12-5)^2} \\\\\\ d=\sqrt{24^2+7^2}\implies d=\sqrt{625}\implies d=25$