This question has been plaguing me all day. I wouldn't hesitate to reward you with 10p if you help me out. Any help ,Please!
1. We borrow $2000 for a year, with a simple annual interest rate of 6%. After 5 months, we make a partial payment of $700. How much do we have to pay back at the end of the two
years?
2. We borrow $2000 for a year, with a simple annual interest rate of 6%. After 5 months, we
make a partial payment of $700. After an additional 9 months (that is, 14 months after the
start), we make anotherpartial payment of $800. How much do we have to pay back at the
end of the two years?
3. We borrowed $5000 for three years, with a compound annual interest rate of 8%. How much do we need to pay back at the end of the three years?
2007-02-24
08:34:33
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4 answers
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asked by
Agentj100
4
in
Mathematics