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on may 11, mickey took out a loan for $2,900 at 8% ordinary interest, for 82 days. what is the maturity date of loan
On May 11, Corlis took out a loan for $2,900, at 8% ordinary interest, for 82 days. The maturity date of the loan is August 1. Remember 30 days hath September, April, June and November. The others have 31 days, except for February.
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Expert answered|debnjerry|Points 51953|
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Asked 11/1/2013 9:37:10 AM
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ludwig borrowed $8,000 on july 20, at 11% interest. if the loan was due on october 17, what was the amount of interest on the loan used the exact interest method
Weegy: Ludwig borrowed $8,000 on july 20, at 11% interest. if the loan was due on october 17, what was the amount of interest on the loan used the exact interest method? Number of days of the loan is 89, and exact interest method assumes a 365 day year. [ I=Prt = 8,000*.11*89/365 = 214.58. Therefore the amount of interest is $214.58. ] User: the business manager of toys and noise arranges a loan of $7,500 at 8.5% interest, for 33 months (More)
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