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##### find the interest paid on a loan of $2800

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solution

**Question**

Question;1. find the interest paid on a loan of $2800;for two years at a simple interest rate of 11% per year.;2. Find the maturity value of a loan of;$2400.00 after three years. The loan carries a simple interest rate of 7.7%;per year.;3. Convert to years, expressed in;decimal form to the nearest hundredth. Nine months.;4. A man needed money to buy lawn;equipment. He borrowed $800.00 for five months and paid $53.95 in interest.;What was the rate of interest?5. Find the exact;interest on a loan of $32,600 at 7% annually for 20 days.;6. A loan made on March 13 is due;September 10 of the following year. Find the exact time for the loan in a;non-leap year and a leap year.;7. A loan is made on March 20 for 181;days. Find the due date.;8. A loan for $2000 with a simple annual;interest rate of 15% was made on June 18 and was due on August 18. Find the;exact interest.;9. Find the adjusted balance due at;maturity for a 90 day note of $18,000 at 13.8% ordinary interest is a partial;payment of $4000 is made on the 60th day of the loan.10. Raul Fletes borrowed $7000 on a 210 day note that required;ordinary interest at 13.41%. Raul paid $3500 on the note on the 140th day.;How much interest did he save by making the partial payment?

Paper#48958 | Written in 18-Jul-2015

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