The amount charged for use of bank's money is called what

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The amount charged for use of bank's money is called interest.

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Asked 6/18/2012 10:24:06 AM

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The amount of a loan that is borrowed is known as the what

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Updated 6/17/2012 1:02:49 PM

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debnjerry

The amount of a loan that is borrowed is known as the principal.

Added 6/17/2012 1:02:49 PM

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Confirmed by yumdrea [12/28/2015 10:21:41 AM]

Which interest method is most widely used by the Federal Reserve?

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Aj25

Administered rate of IOR is most widely used by the Federal Reserve.

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is July 10 to March 15 is 119 days

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Asked 6/18/2012 11:01:17 AM

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anet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest on January 20

Weegy: $7000*.08=560 560*1/3-186.67 in interest charges (More)

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Asked 6/18/2012 11:10:13 AM

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is principal is equal to rate divided by interest times time

Weegy: I=PNR/100.So p=I*100/N*R (More)

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Asked 6/18/2012 11:20:08 AM

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