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Morgan loaned $3100 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?

Morgan loaned $3100 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?

Advanced Engineering Mathematics
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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Please answer no. 15

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of simple interest did the deposit earn? 14. Indira paid interest charges of $169.05 on a $4830 invoice that was two months overdue. What monthly rate of simple interest was she charged? 15. Morgan loaned $3100 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 $221.657
Transcribed Image Text:of simple interest did the deposit earn? 14. Indira paid interest charges of $169.05 on a $4830 invoice that was two months overdue. What monthly rate of simple interest was she charged? 15. Morgan loaned $3100 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 $221.657
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