Question

Find the interest to be paid on a loan of 6000 granted to a family member, at a nominal rate of 15% semiannually, for 2 bi-monthly periods.

278

likes

1389 views

Answer to a math question Find the interest to be paid on a loan of 6000 granted to a family member, at a nominal rate of 15% semiannually, for 2 bi-monthly periods.

$Expert avatar$

Ali

4.4

92 Answers

1. Identify the principal amount:

P = 6000

.
2. Convert the annual nominal rate to a semiannual rate:

r = 0.15/2 = 0.075

.
3. Convert the time period from bi-monthly to half-years:

n = 2/6 = \frac{1}{3}

.
4. Apply the simple interest formula:

I = P \times r \times n

.
5. Calculate the interest:

I = 6000 \times 0.075 \times \frac{1}{3} = 150

.

The interest to be paid is

150

Frequently asked questions (FAQs)

What is the domain of the function f(x) = cos(2x) + tan(x)?

What is the average temperature, in degrees Celsius, for the month of June?

What is the extreme value of the function f(x) = 2x^3 - 5x^2 + 3x + 1 on the closed interval [0, 5]?

New questions in Mathematics

A circular park has a diameter of 150ft. A circular fence is to be placed on the edge of this park. Calculate the cost of fencing this park if the rate charged is $7 per foot. Use π = 3.14.

A person who weighs 200 pounds on earth would weigh about 32 pounds on the moon. Find the weight of a person on earth who would weigh 15 pounds on the moon.

1/2x +3 <4x-7

what is the annual rate on $525 at 0.046% per day for 3 months?

A regional candy factory sells a guava roll at a price of $48, the monthly fixed costs amount to $125,000 and the variable cost for making a guava roll is $28. Determine: a) The equation of the total income from the production of guava rolls.

The mean life of a television set is 119 months with a standard deviation of 13 months. If a sample of 67 televisions is randomly selected, what is the probability that the sample mean would be less than 121 months? Round your answer to four decimal places

4. Show that if n is any integer, then n^2 3n 5 is an odd integer

If A and B are any events, the property that is not always true is: a) 0 ≤ 𝑃(𝐴 ∩ 𝐵) ≤ 1 b) 𝑃(Ω) = 1 c) 𝑃(𝐵) = 1 − 𝑃(𝐵𝑐) d) 𝑃(∅) = 0 e) 𝑃(𝐴 ∪ 𝐵) = 𝑃(𝐴) + 𝑃(𝐵)

Convert 5/9 to a decimal

A hardware bill totals $857.63 with discounts of 5% and 3%. What is the net cost of the Material ?

Which statement best describes the key changes in perspectives on inclusion? An inclusive program must consider the unique experiences of every child and family as well as the child's strengths and needs. There is a shift in thinking about individual programs as "inclusive programs" to thinking about inclusion as something that reflects the cultural influence of the family. There is a greater emphasis on barriers to full participation and the acknowledgement that all children are unique and must be fully and meaningfully engaged in a program. In an inclusive program all participants are accepted by their peers and other members of the community.

What is the value of f(-3) for the function X squared+5x-8=

Determine the kinetic energy of a baseball whose mass is 100 grams and has a speed of 30 m/s.

Cuboid containers (open at the top) should be examined with regard to their volume. The figure below shows a network of such containers (x ∈ Df). Determine a function ƒ (assignment rule and definition area D) that describes the volume of these containers and calculate the volume of such a container if the content of the base area is 16 dm². Show that this function f has neither a local maximum nor a global maximum

To paint a 250 m wall, a number of workers were employed. If the wall were 30 m longer, 9 more workers would be needed. How many were employed at the beginning?

56 × 12 = 672. How should you adjust this answer 672 to determine 57 × 12? a) The answer increases by 1 b) The answer increases by 57 c) The answer increases by 56 d) The answer increases by 12

Let I be an interval and let f : I → R be a continuous function such that f(I) ⊂ Q. Show (in symbols) that f is constant.

question 1 Consider a sample space S, and two events A and B such that P(A ∩ B) = 0.2, P(A ∪ B) = 0.6, P(B ∪ ̄A) = 0.8 (a) [0.5 points] Calculate P (A). (b) [0.5 points] Calculate P (B)

Find the symmetric point to a point P = (2,-7,10) with respect to a plane containing a point Po = (3, 2, 2) and perpendicular to a vector u = [1, -3, 2].

5 1/9 + 2 2/3

Find the interest to be paid on a loan of 6000 granted to a family member, at a nominal rate of 15% semiannually, for 2 bi-monthly periods.

Answer to a math question Find the interest to be paid on a loan of 6000 granted to a family member, at a nominal rate of 15% semiannually, for 2 bi-monthly periods.

You might be interested in