SOLUTION: Bank charges 2.25% per month simple interest on personal loans. If John borrows $6400 for a period of 2 years 1 month find the total interest he has to pay
Algebra.Com
Question 1129954: Bank charges 2.25% per month simple interest on personal loans. If John borrows $6400 for a period of 2 years 1 month find the total interest he has to pay
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
( months )
-----------------------------
$3,600 total interest
RELATED QUESTIONS
A bank charges 2.25% per month simple interest on personal loans. if john borrows $6400... (answered by ankor@dixie-net.com)
To whom may it concern,
I have trouble to get the answer for the follwoinh questions.
(answered by uma)
A commercial bank charges 2% interest per month on the unpaid balance of loans made by... (answered by Alan3354)
A man borrows $5,000 from the bank. Interest is charged at the end of each month 3% per... (answered by addingup)
Hi! Could you please help me with the following question:
A personal loan of $20,000 is... (answered by ankor@dixie-net.com)
Michelle borrows a total of $6000 in student loans from two lenders. One charges 3.2%... (answered by ikleyn)
Faye has a home equity loan of $70,000. The bank charges Faye 6% per annum simple... (answered by rmromero)
Faye has a home equity loan of $70,000. The bank charges Faye 6 % per annum simple... (answered by showe9)
A restaurant borrows 13,900 from a local bank for 11 months. The local bank charges... (answered by ikleyn)