1. Suppose a loan shark offers a loan of $9000 and require the debtor to reture $13000 in a week,find the simple interest rate per annum.
Solution:Interest=_________=________
Time=7days =________year
Let R% be the simple interest rate :
2.Tom borrowed $100000 from a bank at12% p.a.,interest being compounded monthly.He repaid a fixed amount of money at the end of each month .If he wanted to repay for not more than $200000 , how much should he pay each month?How much would he pay in total?
MATHS
2008-07-29 9:59 pm
回答 (1)
2008-07-30 3:17 am
✔ 最佳答案
1. Interest = 13 000 - 9000 = $4000Time = 7 days = 7 / 365 year
Let R% be the simple interest rate.
i.e. 9000 X R% X 7 / 365 = 4000
R = 2317 (cor. to the nearest integer)
Therefore, the simple interest rate per annum is 2317%.
2. Let n months be the time for repayment
100 000 X (1 + 12% / 12)n <= 200 000
1.01n <= 2
nlog1.01 <= log2
n <= 69.66
n = 69
So, he should pay each month
= 200 000 / 69
= $2898.55 (cor. to 2 d.p.)
He should pay in total
= 2898.55 X 69
= $200 000
參考: Myself~~~
收錄日期: 2021-04-23 18:37:47
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