A company took a loan on the May 15th and paid it back on the Oct 20th. The amount of interest they needed to pay was 1 808,34 € The interest rate of the loan was 2,8% Calculate the amount of the loan. Principal Start date End date Rate Time Days Interest Answer:
A company took a loan on the May 15th and paid it back on the Oct 20th. The amount of interest they needed to pay was 1 808,34 € The interest rate of the loan was 2,8% Calculate the amount of the loan. Principal Start date End date Rate Time Days Interest Answer:
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 12EA: Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank...
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![A company took a loan on the May 15th
and paid it back on the Oct 20th.
The amount of interest they needed to pay was 1 808,34 €
The interest rate of the loan was 2,8%
Calculate the amount of the loan.
Principal
Start date
Rate
End date
Time
Days
Interest
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff90e6907-8e2c-4e7d-aa25-23d7ef746c4c%2F8bdcef34-e1ba-4d9c-804c-c3b70be58a9b%2F3m6vh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company took a loan on the May 15th
and paid it back on the Oct 20th.
The amount of interest they needed to pay was 1 808,34 €
The interest rate of the loan was 2,8%
Calculate the amount of the loan.
Principal
Start date
Rate
End date
Time
Days
Interest
Answer:
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