![subject](/tpl/images/cats/mat.png)
Mathematics, 18.01.2022 15:00 vvkaitlynvv4982
A bank offers a simple interest loan of $35 000 with monthly repayments of $545.
a. Calculate what the rate of simple interest is if the loan is paid in full in 15 years.
b. After 5 years of payments the bank offers to reduce the total time of the loan to 12 years if the
monthly payments are increased to $650. Calculate how much interest would be paid over the life of
the loan under this arrangement.
c. Calculate the average rate of simple interest over the 12 years under the new arrangement.
![ansver](/tpl/images/cats/User.png)
Answers: 3
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Mathematics
![image](/tpl/images/cats/mat.png)
![image](/tpl/images/cats/mat.png)
Mathematics, 21.06.2019 20:30, gwendallinesikes
Is the point (0, 8) on the x-axis or y-axis? how do you know?
Answers: 2
![image](/tpl/images/cats/mat.png)
Mathematics, 21.06.2019 23:30, niquermonroeee
Abaseball team drinks 10/4 gallons of water during a game. which mixed number represents the gallons of water consumed? a) 1 1/2 gallons b) 2 1/2 gallons c) 2 3/4 gallons d) 3 1/2 gallons
Answers: 2
You know the right answer?
A bank offers a simple interest loan of $35 000 with monthly repayments of $545.
a. Calculate what...
Questions in other subjects:
![Konu](/tpl/images/cats/mat.png)
Mathematics, 14.09.2020 01:01
![Konu](/tpl/images/cats/health.png)
Health, 14.09.2020 01:01
![Konu](/tpl/images/cats/mat.png)
Mathematics, 14.09.2020 01:01
![Konu](/tpl/images/cats/istoriya.png)
History, 14.09.2020 01:01
![Konu](/tpl/images/cats/mat.png)
Mathematics, 14.09.2020 01:01
![Konu](/tpl/images/cats/mat.png)
Mathematics, 14.09.2020 01:01
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/en.png)
English, 14.09.2020 01:01
![Konu](/tpl/images/cats/mat.png)
Mathematics, 14.09.2020 01:01
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 14.09.2020 01:01