Question 1) Jenny agrees to loan alice $2000 to alice as long as alice can repay the money to her as soon as possible as a lump-sum, including simple interest of 5% per month until it is repaid.
This is the table:
Month (n) 1 2 3 4 5 6
Repayment ($r) 2000 2100 2200 2300 2400 2500
and so-on, until month 12, which is 3200
The question is: Clearly state the equation for repayment (r) as a function of time (n)
Question 2) What is the formula for simple interest, and what is:
Pricipale x Rate x Time (is this simple interest, or is it SI = (PrT)/100?)
2007-05-20
17:22:23
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2 answers
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asked by
Anonymous
in
Science & Mathematics
➔ Mathematics