If a lender makes a simple loan of $900 for two years in charge is 5%,...

If a lender makes a simple loan of $900 for two years in charge is 5%, then the amount that the lender receive at maturity is $

if a lender makes a simple loan of $1500 for one year in charge is $70 interest, and the simple interest rate on the loan is: (blank) %

If a borrower must pay $106.50 one year from today in order to receive a simple loan of $100 today the interest rate on that loan is

Expert Solution

1.If a lender makes a simple loan of $900 for two years in charge is 5%, then the amount that the lender receive at maturity is $990. because at 5% rate for 2 years he will receive 90$ more.

2. if a lender makes a simple loan of $1500 for one year in charge is $70 interest, and the simple interest rate on the loan is: 4.66%

3. If a borrower must pay $106.50 one year from today in order to receive a simple loan of $100 today the interest rate on that loan is 6.50%.

Rahul Sunny answered 2 years ago

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