John paid $10,000 on a $7, 500 loan borrowed for 4 years. Find the simple intere

Question

John paid $10,000 on a $7, 500 loan borrowed for 4 years. Find the simple interest rate? How mu Ch should a bank bid on a 6 months $500,000 Treasury bill to earn 5% simple interest? The proceeds are $12, 500 for a 9 months discounted loan at 8% simple interest. Find the amount you must pay at the end of the loan term? If $6,000 is invested at an annual rate of interest of 10% compounded monthly for 8 years, what is the future amount? How mu Ch should you invest now at 6% compounded quarterly so that in 10 years you'll have $100,000?

Explanation / Answer

Dear Student Thank you for using Chegg !! Given Amount (A) = 10000 $ Principle (P) = 7500 $ Time period (T) = 4 years R = ? Now we know for simple Interest, Amount = P + PRT /100 10000 = 7500+ 7500*4*R /100 2500/300 = R R = 8.333333 Hence rate of simple interest is 8.33% Kindly note that as per Chegg policy an expert need to answer 1 question at a time. Thank you!!

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