williamgriffith2010 williamgriffith2010
  • 24-10-2021
  • Mathematics
contestada

Consider the following two loans for P=$12,000.

Loan A: 5 year loan, annual interest rate of 5%.
Loan B: 3 year loan, annual interest rate of 8%.

Respuesta :

krishtinatulachan02
krishtinatulachan02 krishtinatulachan02
  • 24-10-2021

Answer:

Simple interest-?

Step-by-step explanation:

P= 12000

T=5yrs

R=5%

Now,

Simple interest - PTR/100

= 12000*5*5/100

= $3000

Again,

P=12000

T=3yrs

R=8%

Now,

Simple interest - PTR/100

= 12000*3*8/100

= $2880

Hope this helps.

Answer Link

Otras preguntas

A dime has a diameter of about 18 millimeters . about how many millimeters long would a row of 34 dimes be?
what is the ratio of 40:25
In a chemical equation, what do the coefficients indicate?
Why are nonvascular plants found in moist enviroments?
Jason eats 10 ounces of candy in 4 1/2 days. how many ounces does he eat per day?
In what fields did Hippocrates and Euclid make their greatest achievements?
Your body also transforms what energy
how do changes in the supply of oil affect the price of oil???
what is the northeast?
Who says the following and why? "She's still waiting there in your halls, poor woman, suffering so, her life an endless hardship like y