Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the term of the loan if the total interest came to $221.65?

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Answered: Morgan loaned $3,100 to Rolf at a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the
term of the loan if the total interest came to $221.65?