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Franklin Woo loaned money to his daughter, LeAnn, to help her purchase a car. The loan was for two years at 3.5% exact simple interest
Franklin Woo loaned money to his daughter, LeAnn, to help her purchase a car. The loan was for two years at 3.5% exact simple interest (365-day year). When LeAnn repaid the loan after two years, the interest amounted to $385. Compute the amount that Franklin had originally loaned to her. Question 7 options: A) $11,000 B) $6,000 C) $5,500 D) $9,500
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