Answer: The duration of the loan is approximately 2.5 years.
Step-by-step explanation:
Since we have given that
Principal = $1200
Rate of interest = 6%
Interest = $1020
We need to find the duration of the loan.
As we know the formula for "Simple interest":
Hence, the duration of the loan is approximately 2.5 years.
Answer:
28
Step-by-step explanation:
4/65 then ?/455
divide 455 by 65 to get 7
4/65=4x7/65x7(455)
4/65=28/455
therefore there are 28 boxes with the coupon out 455
C. I think I’m not totally sure but I think that’s right