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How many months will it take for a loan of 6000 to earn 360 using a rate of 8 percent pa?
Updated: 9/22/2023
Wiki User
∙ 11y agoBest Answer
Using simple interest, 6000 will earn 6000 x 0.08 = 480 in 12 months, that is 40 per month. So to make 360, it will take 360/40 = 36/4 = 18/2 = 9 months
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∙ 11y agoThis answer is:
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