Question
Aldo obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 16%. His loan is for $14,500
Aldo obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 16%. His loan is for
$14,500 for 61 days. Assume each day is 1/365.
round your final answers to the nearest cent.
| (a) | Find the interest that will be owed after 61 days. |
| (b) | Assuming Aldo doesn't make any payments, find the amount owed after 61 days. |
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A Handbook Of Statistical Analyses Using Sas
Authors: Geoff Der, Brian S Everitt
3rd Edition
1584887850, 9781584887850
