finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months?
P pumpkinslion New member Joined Apr 14, 2006 Messages 6 Apr 23, 2006 #1 finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months?
D Denis Senior Member Joined Feb 17, 2004 Messages 1,707 Apr 23, 2006 #2 pumpkinslion said: finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months? Click to expand... 1780 * 1.06 if simple interest (not compounding) : .06 = .12/2 1780 * 1.01^6 if compounding monthly : .01 = .12/12
pumpkinslion said: finding the total amount due on a loan, principal if $1780,rate 12% and the time is 6 months? Click to expand... 1780 * 1.06 if simple interest (not compounding) : .06 = .12/2 1780 * 1.01^6 if compounding monthly : .01 = .12/12
