On March 5th, a couple took out a 90-day loan for $450 at 9% interest. On March 29th, they made a partial paym
On March 5th, a couple took out a 90-day loan for $450 at 9% interest. On March 29th, they made a partial transfer of funds of $150. After making the payoff, how much did they still owe?
Answers:
Simple interest? Compound interest? Continuous interest? It's a bit anal-retentive, but you call for to know that until that time the exact answer can be calculated.
Of course, at valid bank, interest isn't even calculated until the cease of the month, so the solid answer would be "$300." I'm sure this isn't what the instructor is looking for, though.
Ramon, do your own homework.
Linked credit card?
Where can I run to find out who is pulling/checking my credit rack up?
Should I consider transferring the be a foil for on my credit cards?
What is going to crop up near my wall report, and what they are going to ask me?
Do I hold too heaps cards?
Answers:
Simple interest? Compound interest? Continuous interest? It's a bit anal-retentive, but you call for to know that until that time the exact answer can be calculated.
Of course, at valid bank, interest isn't even calculated until the cease of the month, so the solid answer would be "$300." I'm sure this isn't what the instructor is looking for, though.
Ramon, do your own homework.