menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Mathematics
  3. Study Set
    Business Mathematics Study Set 1
  4. Exam
    Exam 6: Simple Interest
  5. Question
    A $6,000 Loan at 8% Is to Be Repaid in Three
Solved

A $6,000 Loan at 8% Is to Be Repaid in Three

Question 211

Question 211

Short Answer

A $6,000 loan at 8% is to be repaid in three equal payments at three months, six months, and nine months. Determine the size of the equal payments.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q206: Calculate the missing value:<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8414/.jpg" alt="Calculate

Q207: $22,000 was due 90 days ago. It

Q208: How can you determine which of three

Q209: Calculate the simple interest rate at which

Q210: How much money would I have to

Q212: Carly borrowed $450 from Jenn on August

Q213: Sergon has $5,000 to invest for six

Q214: Payments of $2,600, due 50 days ago,

Q215: If, on March 11, $12,000 was placed

Q216: How much interest could you earn over

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines