Edward takes out today a loan of S150 000 00 from a local Bank at 80 o Simple Interest for /yearS.How much will he pay back at the end of vear 7th?

A=P1+R×T100Where, A=AmountP=PrincipalR=Rate of interestAnd T=Time in years

Answered: Edward takes out today a loan of…

Edward takes out today a loan of $150,000.00 from a local Bank at 8° Simple Interest for 7 years, How much will he pay back at the end of year 7th?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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