Question 9 (1 point)
1 answer:
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Answer:
A man borrows * 8000
He agrees to repay with a total interest of 1360 in 12 monthly instalments.
Each instalment being less than the preceding one by * 40
= x 40
= 12 x 34
= 408 (Ans)
Answer:
Interest= $ 18.73
Step-by-step explanation:
Given : $600 at 9.5% for 120 days
To find : Find the interest due
Solution :
Simple interest formula
Principle(P)=$600 , rate(r)=9.5%=0.095 , time (t)= 120 days
In years, 1 year = 365 days
1 day = year
120 days = year
Put values in the formula
Therefore, Interest= $ 18.73