Riley runs an auto repair shop, and needs to purchase a new brake lathe, which costs ($

Question:

Riley runs an auto repair shop, and needs to purchase a new brake lathe, which costs \(\$ 11,995\). She takes out a two-year, simple interest loan at an annual interest rate of \(14.9 \%\). How much interest will she pay and how much total will she repay on the loan?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: