# Math calculation for homework please help?

Answers:3 | LastUpdateAt:2018-07-28 02:40:33

**Q**uestion- Oti
- Asked at 2012-08-31 01:15:02

Oprah Inc , a loan of $ 12,000 for four months on a discounted basis . The lender uses an interest rate of 8% to calculate the discount . The amount of cash available Oprah Inc. actually had to use this loan was ? MedlinePlus
MedlinePlus
I think the answer is 11, 680, but I'm bad at math and wanted to see if I was anywhere close to doing this problem correctly ?

Answer1AgnusAnswered at 2012-10-05 15:01:35

I'll answer with the assumption that the rate was 8% (if not specified) . MedlinePlus
MedlinePlus
Amount of capital = $ 12,000 MedlinePlus
Rate = 8% = 0.08 MedlinePlus
The time is 4 months ( become over the years would be 4 /12 = 0.33 years )

MedlinePlus
Simple Interest = ( Principal X Rate X Time ) / 100 MedlinePlus
S.I = 12000 X 8 X % 12.4 MedlinePlus
S.I = 12000 X 0.08 X 0.33 MedlinePlus
MedlinePlus S.I = $ 316.80
MedlinePlus
Since this is a loan discount , Inc Oprah interest would have $ 12 000 less than $ 316.80 , so your answer is (12.000 to 316.80 ) = $ 11,683.20 .

Related Questions

- Math calculation for homework please help?
Oprah Inc , a loan of $ 12,000 for four months on a discounted basis . The lende...

- I need assistance with a financial debt calculation, this is beyond my math skills LOL?
We are trying to become debt free. My husband and I cut our budget where we have...

- How do you solve this math problem pertaining to simple interest calculation?
Please send your answers along with the work , much appreciated . MedlinePlus
Me...

- Math Homework ! ! ! ! ! ! Please Help ! ! ! !?
1. An account earns 3% interest compound annually. The balance after 4 years is ...

- Help wit homework? math?
Q ) If you buy an iPod that costs $ 399, the amount of sales tax paid if the rat...

- Need help with math homework?
I have a couple questions I understand . Answer and explanation of any of the qu...

- Math homework please help?
Math homework help please ? MedlinePlus
1. Hedda net salary is $ 50,963.00 River...

- Can someone help me with my math homework?
Not too hard , just confuse me with deadlines. Could someone please answer this ...

- Can you explain to me how to do these? math homework.?
1. Diana drove for 3 hours on the freeway, then decreased her speed by 20 miles ...

- Consumer MATH homework!HELP?
Using the formula given , what is the monthly payment for an auto loan of $ 14,7...

### Answer This
Question:**Math calculation for homework please help?**