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
Andreas93 [3]
3 years ago
7

I don't care about getting the answers but rather a step-by-step explanation for this problem: A simple interest, 8-month loan o

f $3,000 has an annual interest rate of 9.3%. Determine the following values. (For the first answer blank, enter an exact number. For the second answer blank, enter a number. For the third answer blank, enter an exact number as an integer, fraction, or decimal.)
P = $

r =

t =


Find the amount of interest paid (in dollars) on this loan. (Enter an exact number.)

I = $


Calculate the maturity value (in dollars) of this loan. (Enter an exact number.)

$
Mathematics
1 answer:
alisha [4.7K]3 years ago
7 0

Answer:

Step-by-step explanation:

The formula for simple interest 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

T = 8 months = 8/12 = 2/3 years

P = $3000

R = 9.3%

Therefore

I = (3000 × 9.3 × 2/3)/100

I = 18600/100

I = $186

The maturity value (in dollars) of this loan would be

3000 + 186 = $3186

You might be interested in
Can someone pled help me
Lapatulllka [165]

Answer:

Step-by-step explanation:Sorry but I don't think any of those answers are correct its impossible to solve that

6 0
3 years ago
A teacher surveyed her students about the amount of time the students
LiRa [457]

Answer:

c

Step-by-step explanation:

I just had the exact same question on a worksheet

5 0
3 years ago
How many grades of fuel oil are normally considered as heating oils?
harina [27]
<span>In the U.S., three grades of fuel oil used for heating are generally recognized. The grades are No. 1, No. 2, and No. 4. No. 1 heating oil is more highly refined than No. 2, and is less viscous. For this reason, it is more suitable for outdoor storage in very cold climates.</span>
3 0
3 years ago
3.08 + 8.94 Find the sum
oksian1 [2.3K]

Answer:

5.86

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
What is the area of an circle of 11 ft
VladimirAG [237]

Answer:

well if the radius is 11 the answer would be 380.13

but if the radius is half that (5.5) then the answer would be 95.03

Whatever the radius is.

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Other questions:
  • Help me out Wishing. What are the trigonometric ratios. Write all six.
    12·2 answers
  • Use the accompanying table of standard scores and their percentiles under the normal distribution to find the approximate standa
    11·1 answer
  • Is a rectangle with curved angles a polygon
    11·1 answer
  • A whole number is 6 more than 2 times another number. The sum of the two numbers is less than 50. This can be written in an ineq
    15·1 answer
  • 9. Sarah saves $200 in her bank account for 3 years at a 5% interest rate. How much interest does she earn?​
    8·2 answers
  • Plzzzzzzzzzzzzz help
    15·2 answers
  • The Income-tax for the state of Kalamazoo is as follows:
    9·1 answer
  • Which of the following segments is a radius of OO?
    15·1 answer
  • 8600⋅0.0395x=21000<br> ok this time there is an x<br> what is x
    7·1 answer
  • 2. What is the radius of a circle (rounded to the nearest tenth) that has a circumference of 87 cm?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!