Ask Question
BusinessBusiness
29 December, 04:15

Katie needed to take out three loans. a) First, she paid $596.24 in interest on a nine-month loan for which the rate was 11%. How much money did she borrow? b) A year later, Katie borrowed $10,000 for three months. If she paid $225 in interest, what rate of interest did she pay? c) Finally, Katie borrowed $12,000 at 10% interest. If she paid $600 in interest, for how long was the loan

+2
Answers (1)
  1. 29 December, 04:41
    0
    F (x) = 596.24 (.11) ^x

    x = years

    Solve for x
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Katie needed to take out three loans. a) First, she paid $596.24 in interest on a nine-month loan for which the rate was 11%. How much ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If a producer violates an insurance law and also commits a criminal action in the process, which action is the Director most likely to take against the producer?
Answers (1)
Phan Company has not reported a profit in five years. This year the company would like to narrow its loss to $7,500. Assuming its selling price is $36.
Answers (1)
Cutter enterprises purchased equipment for $72,000 on january 1, 2013. the equipment is expected to have a five-year life and a residual value of $6,000. using the straight-line method, the book value at december 31, 2013, would be
Answers (1)
Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the basket's cost was $50; in 2014, the basket's cost was $51; and in 2016, the basket's cost was $52.
Answers (1)
The higher the price of an antique, the greater people's expectation that the object is rare. That, in turn, makes the antique appear more valuable. If the statements above are correct, then offering an antique for sale at a bargain price:
Answers (1)
New Questions in Business
Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution.
Answers (1)
Older adults who participated in 20 one-hour video game training sessions with the program lumosity showed reduction in their:
Answers (1)
The total of tools, equipment, machinery, and buildings used to produce goods and services is called supply. True or False
Answers (1)
What percentage of federal revenues is made up of corporate taxes
Answers (1)
F Rudy offers Oscar $200 for his laptop valued at $600 and Oscar agrees, a court will probably
Answers (1)
Home » Business » Katie needed to take out three loans. a) First, she paid $596.24 in interest on a nine-month loan for which the rate was 11%. How much money did she borrow? b) A year later, Katie borrowed $10,000 for three months.
Sign In
Ask Question
Menu
Subjects