equations
a student obtains a simple-interest loan to pay one year of college tuition, which costs $18,000, and the annual interest rate on the loan is 6%. how do you write this equation?
I=18,000x13%x2
a student obtains a loan to pay one year of college tuition, which costs $18,000, and the annual interest rate on the loan is 6%. What would the interest be?
$ 1,080.00
Jeffrey gets a loan to buy a car that costs $124,000 and the annual interest rate on the loan is 13.5%. how do you write this equation?
I=124000x13.5x1
Jeffrey gets a loan to buy a car that costs $124,000 and the annual interest rate on the loan is 13.5%. what would the interest be after a year?
$140,740.00
Neo got a loan to buy a house that costs $320,000 and the interest rate on the loan is 20.5%. how would you write the equation if 3 years have passed?
I=320000x20.5 x 3
Neo got a loan to buy a house that costs $320,000 and the interest rate on the loan is 20.5%. What would the interest be if 3 years have passed?
$ 16,740.00
what is the definition of the initial principal balance
the principal is the initial size of a loan; it can also be the amount still owed on a loan.
A tennis coach got a loan to buy a tennis court that costs $200000 and a racket that costs $230 with an interest rate of 13%. how would write this after 2 years?
I=$200230x13% x 2
A tennis coach got a loan to buy a tennis court that costs $200000 and a racket that costs $230 with an interest rate of 13%. What would the interest be after 2 years?
$52,059.80
what is the definition of simple interest
the interest calculated on the principal portion of a loan or the original contribution to a savings account.
Steve asks his uncle for $1.50 to buy a drink at the corner store, with an interest rate of 2000%per week (there are 52.1429 weeks in a year). If his birthday is 3/31/1992 and the drink was bought on 2/6/1998, how would you write this if a year?
I=1.50x1+2000% x 52.1429
Steve asks his uncle for $1.50 to buy a drink at the corner store, with an interest rate of 2000%per week (there are 52.1429 weeks in a year). If his birthday is 3/31/1992 and the drink was bought on 2/6/1998, how much would the interest be after a year?
$30.00