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Math Help - Loan interest...Assistance needed

  1. #1
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    Loan interest...Assistance needed

    I am having difficulty solving this. I have an example problem with the answers...could someone please assist me regarding how exactly they got this answer? Any help is greatly appreciated!
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  2. #2
    MHF Contributor

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    Re: Loan interest...Assistance needed

    Your problem says "apply the United States rule". I presume that is an economics or legal rule for loans- it certainly isn't a mathematics rule. I doubt that anyone here can help you unless you tell us what the "United States rule" is.
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  3. #3
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    Re: Loan interest...Assistance needed

    Thanks to everyone who looked at this! I have actually figured it out on my own
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