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Determine the interest on the following notes: (Use 360 days for calculation.) (a) $5,000 at 6% for 90 days. $Enter the interest in dollars (b) $800 at 9% for 5 months. $Enter the interest in dollars (c) $6,000 at 8% for 60 days. $Enter the interest in dollars (d) $1,600 at 7% for 6 months. $Enter the interest in dollars
Determine the interest on the following notes: (Use 360 days for calculation.) (a) $5,000 at 6% for 90 days. $Enter the interest in dollars (b) $800 at 9% for 5 months. $Enter the interest in dollars (c) $6,000 at 8% for 60 days. $Enter the interest in dollars (d) $1,600 at 7% for 6 months. $Enter the interest in dollars
Answer:(a) $75(b) $30(c) $80(d) $56Explanation:(a) Principal amount p = $5000Rate of interest r = 6 %Time t = 90 daysWe know that simple interest(b) Principal amount p = $800Rate of interest r = 9 %Time t = 5 monthWe know that simple interest(c) Principal amount p = $6000Rate of interest r = 8 %Time t = 60 daysWe know that simple interest(d) Principal amount p = $1500Rate of interest r = 7 %Time t = 6 monthsWe know that simple interest...
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