2 years ago

Consider the following two loans for P=$12,000.

Mathematics

1 answer:

n200080 [17]2 years ago

4 0

Answer:

Simple interest-?

Step-by-step explanation:

P= 12000

T=5yrs

R=5%

Now,

Simple interest - PTR/100

= 12000*5*5/100

= $3000

Again,

P=12000

T=3yrs

R=8%

Now,

Simple interest - PTR/100

= 12000*3*8/100

= $2880

Hope this helps.

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