What simple interest would be earned if $5000 is invested at 9% for 9 months ?
1 answer:
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<u>Question</u>:
Franklin saved money to buy art supplies. He used 1/5 of his savings to buy brushes. He used 1/2 of his savings to buy paint. What fraction of his savings does he have remaining?
Answer:
Franklin had of his saving left.
Step-by-step explanation:
Amount used to buy brushes = 1/5
Amount used to buy paint = 1/2
Solution:
Let the remaining amount be x
then ,
x = 1- (amount used on buying brushes + amount used for buying paints)
The principal loan amount will be 250000. P is denoted by the principal loan amount
<h3> What is the amount?</h3>The complete repayment of money at the end of the period for which it was borrowed is referred to as the amount.
The given data in the problem is;
P is the principal loan amount
r is the rate of interest = 2.49%
n is the time period= of 30 years
The formula for the principal loan amount is found as;
Hence the principal loan amount will be 250000.
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