selfpatricia selfpatricia

01-03-2017
Business

Answered

A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest

Verified Answer :

dileepkumarnunna dileepkumarnunna

01-03-2017

interest=(PTR)/100
= (400000.334)/100
= $528

Answer Link

Geophilip Geophilip

27-02-2020

Answer:

$1,600

Explanation:

Since the borrower is to pay 4% of the money by October 11(Due time)

4% of the principal is simply

(4/100)* 40,000 = $1,600

Answer Link

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