Simple and Compound Interest
3rdKind
Question
1.)Amy borrowed $11,149 from her parents to finance a vacation. If simple interest was charged on the loan at 4.21 p.a., how much interest would she have to pay in 180 days?
2.) A loan of $can be repaid in days by paying the principal sum borrowed plus $interest. What was the rate of interest charged?
3.) Mac's credit card statement included $in cash advances and in interest charges. The simple interest rate on the statement was p.a. For how many days was Mac charged interest?
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