What is the amount of interest she owed on the loan? A bank loaned - ProProfs Discuss
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What is the amount of interest she owed on the loan? A bank loaned Peggy Chalmers $3,000 at 13.5% ordinary interest for 90 days.



A. $125.01
B. $12.50
C. $101.25
D. $11.25

This question is part of Business Math
Asked by Fbla, Last updated: Nov 14, 2018

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2 Answers

John Adney

John Adney

Answered on Oct 23, 2017

I= Prt

=(3000)(.135)(90/365)

=3000x.135x0.25

=101.25

 Reply

fbla

Fbla

Answered on Sep 04, 2017

$101.25
 Reply

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