Frankgamalaidn
Answered

Makakuha ng kaugnay na sagot sa lahat ng iyong katanungan sa IDNStudy.com. Magtanong ng anumang bagay at makatanggap ng kumpleto at eksaktong sagot mula sa aming komunidad ng mga propesyonal.

Mr. Sioco paid $249,750 corresponding to the principal and interest of his one year loan. What was the interest rate applied to this if the originsl amount he borrowed was $225,000?

Sagot :

Jeremiaidn
Just follow this formula:
 I=PRT   (I-interest, P-principal, R-rate, T=time)
I=Total amount-principal

Answer:
I=$249,750 - $225,000
I=$24,750
I=PRT

$24, 750= $225, 000 x r x 1
$24, 750= $225, 000 x r
$24, 750 / $225, 000 =r
0.11 = r
(Change to percent)
11% = r
Check:
$24, 750= $225, 000 x 11% x 1
$24, 750= $225, 000 x.11
$24, 750=$24, 750, CORRECT!!!
Therefore, the interest rate is 11 % per annum. (or 11% per 1 year)
Natutuwa kami na ikaw ay bahagi ng aming komunidad. Magpatuloy sa pagtatanong at pagbibigay ng mga sagot. Sama-sama tayong lumikha ng isang mas matibay na samahan. Umaasa kami na natagpuan mo ang hinahanap mo sa IDNStudy.com. Bumalik ka para sa mas maraming solusyon!