Posted in Antique Jewellery by
on November 30, 2010
A look at what is currently available on eBay
 DE GROOT AND THE PICCADILLY 2298 LP 78 RPM 10" Record US $9.99 
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 Pressure Cookery Perfected by Roy Andries de Groot US $.99
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 Probability and Statistics 4E by Degroot, Schervish 4th US $51.50
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Diana DeGroot lends $6500 for 12%.How much interest will she earn?
a. $970
b. $1070
c. $1170
d. $1270
I think you forgot to tell us what is the term of the loan.
The only answer that makes sense when we guess for how long of a period she lends the money at that interest is
answer c. using the period of one and a half years.
Let me show you why.
The interest she would get for a year is
6500 times 12 divided by 100
which is 780
The interest for a half a year then is half of 780
which is 390
So 780 plus 390 = 1170
When you ask an interest question you have to have a term of the loan.
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