Assume that all interest is simple interest. A local miniature golf course owner must recarpet his fairways and replace the golf clubs his customers use. A bank will lend the owner the necessary  $4500  at  7%  interest over  78  months. A savings and loan company will lend the owner  $4500  at  8%  interest for  54  months. Which loan will be less expensive for the golf owner to assume?     The total interest paid for the bank loan is  $

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A: here on using the formula Amount = principle + simple interest ,we will get the invested money

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Q: An investment pays simple interest, and triples in 17 years. What is the interest rate

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Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: Find the interest rate for a principal of $6570 and charged $30105 in interest for 12 years.

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Q: If you invest $6,000 in an account that pays 15 percent simple interest per year, how long before…

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Q: If $520 is invested for one year at 13% simple interest, how much interest is earned? The simple…

A: The objective of the question is determine the simple interest.

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