Time remaining:
Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155.

Business & Finance
Tutor: None Selected Time limit: 1 Day

Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155.

Oct 25th, 2014

SI=1155

R=4.2%

T=5.5 years

SI= PRT/100

1155= P*4.2*5.5/100

1155*100/(4.2*5.5)=P

115500/23.1=P

P = $ 26,68,050

Oct 25th, 2014

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Oct 25th, 2014
...
Oct 25th, 2014
Mar 31st, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer