You decide to take out a 20000 simple interest loan at 4 on

Assignment Help Mathematics

Reference no: EM13469830

You decide to take out a $20000 simple interest loan at 4%, on the 07/23/2014

a) In 45 days you decide to pay off $8000 of the loan. What is your new principal? Explain how you got the answer.

b) 30 days after the first payment, you pay another $6000. What is your new principal? Explain how you got the answer you did.

c) 45 days after the 2nd payment, your loan comes due. How much do you need to pay then? Explain your reasoning.

Reference no: EM13469830

Questions Cloud

You are a captain in a police department the chief calls : you are a captain in a police department. the chief calls you into a meeting with the 6 other captains in the police

What mass of carbon must be produced if tums were pure : what mass of carbon should be produced if the tums were pure calcium carbonate? this is theoretical yeild. equation

The united states has several laws that are intended to : the united states has several laws that are intended to further fair balanced and competitive business practices. do

The development of policing in america was greatly : the development of policing in america was greatly influenced by the developments of the london metropolitan police

You decide to take out a 20000 simple interest loan at 4 on : you decide to take out a 20000 simple interest loan at 4 on the 07232014a in 45 days you decide to pay off 8000 of the

Provide a brief overview of the rights contained within the : the first 10 amendments of the u.s. constitution are commonly referred to as the bill of rights. the bill of rights

Sudson washer and dryer service is in the business of : sudson washer and dryer service is in the business of leasing used washers and dryers to apartment landlords for a

The student body at eisenhower high school is having an : the student body at eisenhower high school is having an election for homecoming king. the candidates are aaron brad

Explain why is the vertical movement of air critical to the : why is the vertical movement of air critical to the formation of clouds and precipitation? how is this vertical

User Account

All Pages