Answer:
63.38
Step-by-step explanation:
(49.90)(20%)(6%)
20%= $9.98
49.90+9.98 =59.80
(59.80)(6%)
6%= $3.58
59.80+3.58=63.38
Answer:
It's D.
Step-by-step explanation:
The shorter period loan has the same total interest for the same loan amount, so it has the higher effective interest rate: 80/12 is higher than 89/14.
I am working on this in school, this is how we are being taught to do this type of problem:
First, convert the 9.5% to 0.095. Then multiply:
10,000 x 0.095 x 90 = 85,500
So, the answer should be: $85,500 interest.
112.5 I believe is the right answer