Question
Goran takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of 6.4%. His loan is
Goran takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of 6.4%. His loan is for
$5300 for 10 months. Assume each month is 1/12 of a year.
round your final answers to the nearest cent.
| (a) | Find the interest that will be owed after 10 months. |
| (b) | Assuming Goran doesn't make any payments, find the amount owed after 10 months. |
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Advanced Engineering Mathematics
Authors: Dennis G Zill
6th Edition
1284105970, 9781284105971
