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8. A loan of $6000 made at 11% per annum on March 10 is repaid in full on November 15,
Payments were made of $2000 on June 30

By Emery

8. A loan of $6000 made at 11% per annum on March 10 is repaid in full on November 15,
Payments were made of $2000 on June 30 and $2500 on September 5. What was the final
payment?
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Emery

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1 thought on “8. A loan of $6000 made at 11% per annum on March 10 is repaid in full on November 15,<br />Payments were made of $2000 on June 30”

  1. Answer:

    1360 is the correct answer…

    Step-by-step explanation:

    11% of 6000 = 660

    6000+660=6660

    money paid = 2500+2500=5000

    loan – paid = final payment to pay

    6660-5000=1660$

    Reply

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