Mike Drago took out a loan for $3,400 at the Gold Coast Bank for 270 days. If the bank uses the ordinary interest method, what rate (in %) of interest was charged if the amount of interest was $249? Round your answer to the nearest tenth of a percent.  %

Q: Jeremy gets a 4-year simple interest loan from the local bank. If the loan is for $8,938 and the…

A: Given: Jeremy gets a 4-year simple interest loan from the local bank. The loan amount is $8,938 and…

Q: deposited ​$7,000 into a savings account 5 years ago. The simple interest rate is 2​%. How much…

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Q: Carlos takes out a loan for $10,300, at 8% ordinary interest. If the amount of interest is $329.60,…

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Q: Paul Peters received a statement from the ABC Department Store showing a previous balance of $90. If…

A: Interest = (Rate of interest × Amount× Time)/100 Amount = $90 ROI = 2.5% Time = 1 Month

Q: ​Annie's cafe borrows $9,400 at 5​% for 240 days. Find the total amount that must be repaid after…

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Q: Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual interest rate…

A: Given that Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual…

Q: Bella Sandino made a $600 loan to her friend, Sadie, at 11%. Sadie paid back the loan with interest…

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Q: Ann borrowed $2,239 for 3 months. If the loan's annual simple discount rate was 47.5%, what was the…

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Q: A student obtains a loan for $7,250. How much money does the student actually receive, assuming a…

A: The objective of this question is to find out the actual amount of money the student receives after…

Q: If Monsieur Legendre is charged an interest of $42.95 on a loan of $950.00 for seven months,…

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Q: Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back…

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Q: find the total amount due and the amount of simple interest earned. round to the nearest cent…

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Q: Bella Sandino needed funds to cover her credit card bill which was due. She took out a $100 loan at…

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Q: Ernie Rolph deposits ​$7150 at 4​% for 1 year. How much interest will he​ earn? What is the account…

A: Given query is to find the amount after 1 year.

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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