A loan of $P is taken out.It is to be repaid with a payment of $2000 in 2 months,$50 in 6 months and a final payment due in 10 months.If the merchant's rule is used,the final payment turns out to be $3000.If the rate of simple interest on the loan is r = 12%,what is P?

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The Answer of A loan of $P is taken out.It is to be repaid with a payment of $2000 in 2 months,$50 in 6 months and a final payment due in 10 months.If the merchant's rule is used,the final payment turns out to be $3000.If the rate of simple interest on the loan is r = 12%,what is P?

A Loan of $P Is Taken Out