David borrowed $6500 From his article with simple interest of 13% and eventually we paid $8190 (principal and interest) What was the time period of the loan
 👍
 👎
 👁
 ℹ️
 🚩
1 answer

6500 + 6500(.13)(t) = 8190
845t = 1690
t = 1690/845 = 2
2 years 👍
 👎
 ℹ️
 🚩
answered by mathhelper
Answer this Question
Related Questions

math
a formula for calculating simple interest is I = Pr, were I is the interest earned in dollars, P is the principal or original investment, and r is the fixed rate of interest. If the amount of interest earned is $2.25 and the interest rate is 3%, what is P?
 asked by sherry

algebra
An investment of $4600 is made at an annual simple interest rate of 6.8%. How much additional money must be invested at an annual simple interest rate of 9% so that the total interest earned is 8% of the total investment?
 asked by tor

math
Ms. Jackson borrowed $42,000 at 8.75% annual simple interest to buy her house. If she won the Irish Sweepstakes exactly 1 yr later and was able to repay the loan without penalty, how much interest would she owe?
 asked by Mike

math
maria borrowed Rs 1400 at the rate of 6%(p.a) for 8 yers and 5 months .Find the amount she paid back?
 asked by zain bajwa

Math
For a given interest rate, simple interest varies jointly as the principal and time. If $3000 left in an account for 6 years earned interest of $1260, then how much interest would be earned in 7 years?
 asked by Larry

English help
the date, time, and location of a robbery would most likely be included in? A feature article an editorial article a hard news article a letter to the editor I thought a featured article but really not sure
 asked by tracey

algebra
Dilbert invests a total of $14,000 in two accounts paying 9% and 15% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,350.00. A) Enter an equation that uses the information as it is given
 asked by Tina

math, financial math
Question says " Find the accumulated amount at the end of 9 months on an $800 deposit in a bank pating simple interest at a rate of 6% year". I know that the simple interest formula is A=P (1+rt) With p being $800 and r being 0.06. I know that t is the
 asked by lijm

Algebra
Last year, Deon had $10,000 to invest. He invested some of it in an account that paid 6%simple interest per year, and he invested the rest in an account that paid 9% simple interest per year. After one year, he received a total of $810 in interest. How
 asked by Gianna

math
A person borrowed Rs.20,000 from a bank at a simple interest rate of 12% per annum.In how many years will he owe interest of Rs.3,600?
 asked by Haroon Gondal

Mathematics
A man wants to buy a residential house valued at she.500000. A housing finance company advances him 90% of the amount. He repays by equal monthly installments of sh.6500 for 15 years. Calculate the total interest paid to the financing company
 asked by Kate

Math
A person borrow $8000 at 2.76% simple interest per annum.The principal and interest are to be paid in 10 monthly installments.If each installmeny is double the preceding one, the value of first and last installments are??A person borrow $8000 at 2.76%
 asked by Shahzaib

math
Katie invested a total of $6000 , part at 3 % simple interest and part at 4 % simple interest. At the end of 1 year, the investments had earned $214 interest. How much was invested at each rate?
 asked by anthony

Algebra
Katie invested a total of $7,000, part at 2% simple interest, and part at 3% simple interest. At the end of 1 year, the investments earned, $184.00 interest. How much was invested at each rate?
 asked by Mae

World geography
how do you do this question: Use a print news or online news source to find an article that illustrates concepts presented in this lesson. Choose an article reporting on a site where a conflict is likely to occur in the future. Summarize the article and
 asked by John

Finance
First Simple Bank pays 6 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. Required: What rate should the bank set if it wants to match First Simple Bank over an investment horizon of
 asked by Alec

Math
Gina plans to invest $12,000, part at 4% simple interest and the rest at 6% simple interest. What is the most she can invest at 4% and still be guranteed at least $650 in interest per year?
 asked by Pamela

College alerbra
Scott invested a total of $9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $973.00 in interest during a single year, how much did he deposit in each
 asked by Matt

Accounting
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. I need to find the interest paid on the maturity date, prepare a journal for it, and then make a reversing
 asked by Larry

simple interest
A total of $8000 is deposited into two simple interest accounts. On one account, the annual interest rate is 10%, while on the second account the annual simple interest rate is 12%. How much should be invested in the 10% account so that the total annual
 asked by ali
Still need help?
You can ask a new question or browse existing questions.