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3 years ago

5

Ms. Benjamin puts $1,200 in Virtue bank. The interest rate is 6% per year. a. How much interest will she get in after one year?

b. How much money will Ms. Benjamin have in the bank after one year?

1 answer:

Mazyrski [523]3 years ago

3 0

Answer:

the answer is 1

Step-by-step explanation:

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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

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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

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