Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Get the answers you need quickly and accurately from a dedicated community of experts on our Q&A platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

You get a single payment loan of $4,400 at an interest rate of 12% the term of the loan is 172 days how much exact interest will you pay

Sagot :

sqdancefan

9514 1404 393

Answer:

  $248.81

Step-by-step explanation:

The interest formula is ...

  I = Prt

where principal P earns interest at annual rate r for t years. Here, t is a fraction of a year: 172/365. The interest is ...

  I = $4400×0.12×172/365 ≈ $248.81

You will pay interest of $248.81.

lansangangabdainiell

Answer:

$ 248. 81 is the answer.

Step-by-step explanation:

[tex] \carryonlearning[/tex]

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.