williamgriffith2010 williamgriffith2010
  • 24-10-2021
  • Mathematics
contestada

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

Loan A: 5 year loan, annual interest rate of 5%.
Loan B: 3 year loan, annual interest rate of 8%.

Respuesta :

krishtinatulachan02
krishtinatulachan02 krishtinatulachan02
  • 24-10-2021

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.

Answer Link

Otras preguntas

What is the diameter of a sphere with a volume of 288 pi? Also can you show me the work
How did socialist labor movements affect strife at start of 20th century
4^n = 1/64 What value of n solves the equation?  not only the answer ... how do I work it?
what is 172 over 96.75 simplified?
Compute without using a calculator. sin (9π/4)tan(7π/3)
A=1/2h(B+b); A=70, B-6, b=1 solve for h
What is 1 - 27/44 = in its simplest form?
Determine cosine 23 degrees:
Jenna got 12, or 3/5 , of her answers right. How many questions were on the test? Make sure to show your work.
2x=160, can you help me with this, and show steps?