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Chauncey borrowed money from Adrian and agreed to pay back $1,400 6 months from now and $1,600 in 10 months. If Chauncey is unable to
Chauncey borrowed money from Adrian and agreed to pay back $1,400 6 months from now and $1,600 in 10 months. If Chauncey is unable to make these payments and instead wants to pay back the loan completely in 15 months, how much money would Chauncey have to pay Adrian if money could earn 7.5% simple interest? For full marks your answer(s) should be rounded to the nearest cent.
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