Just want to confirm my answer. I came up with $854.70. Am i correct?
2006-10-27 03:59:48 · 10 answers · asked by momoftwins1986 1 in Education & Reference ➔ Homework Help
Thanks all I read the question wrong.
2006-10-27 04:46:40 · update #1
7000. The equation is 770=.11 * WN (What Number)
You divide 770 by .11 and get 7000.
When you ask the question you would say 770 is 11% of what number. In equations = means is and * (multiplication) is of. The 770 is the amount of the interest on the loan. I think you misunderstood and thought they meant they wanted 770 PLUS 11% interest. You have to be careful with word problems because they love to trick you! Good luck!
2006-10-27 04:03:22 · answer #1 · answered by Jennifer F 6 · 2⤊ 0⤋
I=simple interest
P=initial amount borrowed
T=time in years
R=percentage of interest
Px11/100=I x T
Px11/100=770 x1
P=770/0.11
P=7000
2006-10-27 11:24:39 · answer #2 · answered by sli_j2006 2 · 0⤊ 0⤋
L x.11=770
so 770/.11=
770
So loan amount = 7000
2006-10-27 11:04:20 · answer #3 · answered by Molly323 5 · 0⤊ 0⤋
$7000.
x (.11) = $770 solve for x
2006-10-27 11:04:30 · answer #4 · answered by Sarah C 2 · 0⤊ 0⤋
Are you saying she paid $770 worth of interest @ 11%?
If so your way off on your calculation.. by about 6 grand or so..
2006-10-27 11:05:08 · answer #5 · answered by Anonymous · 0⤊ 0⤋
interest paid $770
interest rate 11%
period 1 year
Principal = 770/.11
= $7,000
Loan amount is $7,000
2006-10-27 12:00:24 · answer #6 · answered by Abhay L 1 · 0⤊ 0⤋
you are wrong.For getting your correct answer divide $770 by 11 and then multiply the quotient by 100.The correct answer is $7000.
2006-10-27 11:34:01 · answer #7 · answered by alpha 7 · 1⤊ 0⤋
$7000
2006-10-27 13:19:00 · answer #8 · answered by Susan P 2 · 0⤊ 0⤋
$7,000.00 By your calculations she would be paying almost 100%.
2006-10-27 11:10:03 · answer #9 · answered by Snick S 2 · 0⤊ 0⤋
is it simple interst or compound interest?
2006-10-27 12:08:51 · answer #10 · answered by Anonymous · 0⤊ 0⤋