Solve the following problems by showing your formula and computation: 1. what is the simple interest on $4,000 for 2 years of 6%? What is the amount?
Solve the following problems by showing your formula and computation:
1. what is the simple interest on $4,000 for 2 years of 6%? What is the amount?
2. find the interest and the amount for $800 for 8 months at 4%
3. Jason borrowed $2,500 on March 1 from a bank and promised to pay back the money in 90 days at 6% interest using the 360-day Banker's Method. What amount will Jason pay the bank when the loan is due?
4. find the time necessary to yield $30 on $450 at 8% simple interest. answer in months.
5. find the amount due at the end of 15 months whose
6. at 6% simple discount, find the present value of $300 which is due at the end of 90 days using the 6% method. what is the discount on the $300?
Step by step
Solved in 2 steps
