A student takes out an emergency loan for tuition, books, and supplies. The loan is for $900 with an interest rate of 6%. How much interest does the student pay if the loan is paid back in 60 days

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Aug 7, 2022 146k views

0 votes

A student takes out an emergency loan for tuition, books, and supplies. The loan is for $900 with an interest rate of 6%. How much interest does the student pay if the loan is paid back in 60 days

Mathematics
college

BillFienberg asked

by BillFienberg

4.6k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

4 votes

Answer:

1,011.24 dollars

Explanation:

900x1.06^2. 60 days is 2 months. A rate is in months.

Mmdwc answered Aug 12, 2022

by Mmdwc

4.9k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.5m questions

5.9m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions