Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Aaron borrowed money to start a new
business. The simple interest rate on the
loan is 2.5%. He will pay back the loan by
making a total of 12 payments of $266.50
each. How much did he borrow?

Sagot :

ceciliazimba90

Answer:

$6.69448

Step-by-step explanation:

I=?

P=$266.50

R=2.5*1/100=2.5/100

T=12

P*R*T

$266.50*2.5/100*12=$6.69448

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.