You take out a loan of $A at a simple interest rate of r for n-days (n 0).Under exact interest,you have to pay back $8230 at the end of n-days.If ordinary interest is used instead,what would be the amount to be paid back at the end of n-days?
A)$8,230
B)More than $8230
C)Less than $8230
D)Need more information to determine

Question

You take out a loan of $A at a simple interest rate of r for n-days (n > 0).Under exact interest,you have to pay back $8230 at the end of n-days.If ordinary interest is used instead,what would be the amount to be paid back at the end of n-days?
A)$8,230
B)More than $8230
C)Less than $8230
D)Need more information to determine

Quizplus · Accepted Answer

The Answer of You take out a loan of $A at a simple interest rate of r for n-days (n > 0).Under exact interest,you have to pay back $8230 at the end of n-days.If ordinary interest is used instead,what would be the amount to be paid back at the end of n-days?
A)$8,230
B)More than $8230
C)Less than $8230
D)Need more information to determine

You Take Out a Loan of $A at a Simple