if a person borrows 5ooo and pays back 5350 then what is the interest expressed in percent?
1
Expert's answer
2013-05-14T11:12:56-0400
To find the interest expressed in percent, we shouldcalculate the ratio: Sum paid back to initial borrowed sum: 5350/5000=1.07. It means that you pay back 107% of the amount you borrowed, so the interest is 107%-100%=7%, this is the sum that you pay additionaly to your "credit".
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment