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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 215
Use the formula I = PRT , where I = interest in dollars, P = principal or loan amount, R = interest rate written as a decimal, and T = time in years.
FINDING TIME Fred Tausz loaned $39,000 to his sister. The loan was at 7, (or 0.07), with interest of $13,650. Find the time for the loan.
FINDING TIME Fred Tausz loaned $39,000 to his sister. The loan was at 7, (or 0.07), with interest of $13,650. Find the time for the loan.
Explanation
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Given, $39,000 was lent at 7% rate of in...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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