Webhow much was borrowed originally? Found 2 solutions by rfer, stanbon: Answer by rfer (16321) ( Show Source ): You can put this solution on YOUR website! 896/1.12=$800 Answer by stanbon (75887) ( Show Source ): You can put this solution on YOUR website! money is borrowed at 12% simple interest. after 1 year, $896 pays off the loan. WebAnswer: I = $ 1,937.50 Equation: I = Prt Calculation: First, converting R percent to r a decimal r = R/100 = 3.875%/100 = 0.03875 per year, then, solving our equation I = 10000 × 0.03875 × 5 = 1937.5 I = $ 1,937.50 The …
How to Calculate Simple Interest: 10 Steps (with Pictures) - WikiHow
WebExpert Answer. 100% (1 rating) Transcribed image text: Money is borrowed at 16% simple interest. After one year, $803.88 pays off the loan. How much was originally borrowed? WebInterest Calculator. Simple interest is one of the most basic ways to calculate how much financing will cost you or how much you can earn on an investment. Check out our simple … floating feathers filter
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Web14. How much money was borrowed at 16% annual interest for 9months if the interest paid was Php 3,000?A. Php12,500 C. Php20,000 B. Php15,000 D. Php25,000. 15. WebDec 19, 2024 · Once you have numbers for all the values, you can determine the total amount of money that will be accumulated over the life of the loan or investment, including interest. This amount is symbolized by the letter "A" … WebMay 4, 2024 · 15) Derek needs $2400 new equipment for his shop. He can borrow this money at a discount rate of 14% for a year. Find the amount of the loan he should ask for so that his proceeds are $2400. 16) Mary owes Jim $750, and wants to repay him. Mary decides to borrow the amount from her bank at a discount rate of 16%. great hotels in key west florida