<span>Normally when they tell you interest rate they say per annum meaning the percent interest rate for a year.
But in this problem they seem to say John pays 12% for a 146 day loan.
So interest = P * r / 100 = 8400 * 12/100 = $1,008.00
Maturity value = Principal + Interest = 8400 + 1008 = $9,408.00</span>
An equation typically has a slope. Since there is no equation given, I am assuming that 1/7 is the slope:)
1/7 simplified into decimal form is is 0.1428!
Answer:
2+4 6(8)
Step-by-step explanation:
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