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Exercise 10-2 (Part Level Submission) On May 15, Criqui Outback Clothiers borrowed some money on a 5-month note to provide cash during the slow season
Exercise 10-2 (Part Level Submission) On May 15, Criqui Outback Clothiers borrowed some money on a 5-month note to provide cash during the slow season of the year. The interest rate on the note was 8%. At the time the note was due, the amount of interest owed was $510. (a) Your answer is correct. Determine the amount borrowed by Criqui. (Round intermediate calculation to 6 decimal places, e.g. 1.251241 and final answer to o decimal places, e.g. 125.) amount berored by Chiau15300 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SKILL-BUILDING Attempts: 1 of 5 used (b) Assume the amount borrowed was $13,248. What was the interest rate if the amount of interest owed was $552? (Round answer to 0 decimal places, e.g. 152.) Interest Rate
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