ak8itoktfDshibelfor
ak8itoktfDshibelfor ak8itoktfDshibelfor
  • 13-05-2016
  • Mathematics
contestada

Work the following interest problem.

Loan Amount: $13,000
Method of payment: discount basis
Amount of Interest: $625
Term of loan: 1 year

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Hagrid
Hagrid Hagrid
  • 23-05-2016
Loan Amount: $13,000
Method of payment: discount basis
Amount of Interest: $625
Term of loan: 1 year
Solution:
=> 13 000 + 625 (interest) = 13 625 dollars.
=> 
13 625 dollars / 12 months = 1135.42 dollars monthly
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