How much interest will be paid in 1 year for a loan of $3600 at 8 1/2% simple interest?
1 answer:
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The logarithmic expression is
To expand the expression we have to use some properties of logarithm.
We know that
By using this property we can write,
Square root means to the power 1/2, so for , we can write
.
Now we have to use another property of logarithm.
We know that,
So we will use this property to
Now we have to use another property of logarithm.
We know that,
By using this property we can write,
This is the required aswer here.