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OpenStudy (anonymous):
Jill Ley took out a loan for $60,000 to pay for her child's education. The loan would be repaid at the end of eight years in one payment with interest of 6%. The total amount Jill has to pay back at the end of the loan is:
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OpenStudy (anonymous):
(60,000)(.06)(8)
OpenStudy (anonymous):
(P)(R)(T)
OpenStudy (anonymous):
8 devided by anything? thats where im confused..
OpenStudy (anonymous):
8years devided by 365
OpenStudy (anonymous):
The formula is I = prt
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OpenStudy (anonymous):
a year is 365...
OpenStudy (anonymous):
what are your answers
OpenStudy (anonymous):
88,800
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