menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Business Mathematics
  4. Exam
    Exam 6: Simple Interest
  5. Question
    A $1000 Loan at 9% Was Repaid by Two Equal
Solved

A $1000 Loan at 9% Was Repaid by Two Equal

Question 60

Question 60

Short Answer

A $1000 loan at 9% was repaid by two equal payments made 30 days and 60 days after the date of the loan. Determine the amount of each payment.

Correct Answer:

verifed

Verified

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

Related Questions

Q55: Two payments of $1300 and $1800 were

Q56: How many months would it take for

Q57: What was the simple interest rate if

Q58: How many months would it take to

Q59: Calculate the equivalent value of the scheduled

Q61: Payments of $1000 and $7500 were originally

Q62: How much interest could you earn over

Q63: Calculate the missing value: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB9643/.jpg" alt="Calculate

Q64: A $9000 loan is to be repaid

Q65: Compare the economic values of $1480 today

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