The correct answer for this question is $20 per year until the loan is paid off
To calculate interest per year, multiply the principal basis for the rent by the interest per year then divide the value of interest per year by 12.
For simple interest on loans of 200 dollars at 10 percent interest per year, we calculate 20 dollars per year until the loan is paid off.
Answer:The system of checks and balances is an important part of the Constitution. With checks and balances, each of the three branches of government can limit the powers of the others. Each branch “checks” the power of the other branches to make sure that the power is balanced between them.
Explanation:
Answer:Here, James took the right decision. I will clarify this with few points.
1st - If he purchases a car at high interest rate, he will still have all his debt on previous credit card standing as it is. He will have to pay car loan plus his older dues thus paying at double places.
2nd - It is likely that he can still default on loans as paying double money each month can create problems and James can again stop making payments.
3rd - If James starts paying his debts now, he can be free in a few years time and his credit score will again become good. Then he will get the regular rate of interest for his car as he will be debt free.
So, we can say, he made the right decision.
Explanation:
Hope this helped Baka
