Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How much interest will have to be paid on a loan of $17946 for 6 months at a simple interest rate of8.9% peryear? Round to

How much interest will have to be paid on a loan of $17946

for 6

months at a simple interest rate of8.9%

peryear? Round to the nearest cent.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Theory And Practice

Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason

3rd Canadian Edition

017658305X, 978-0176583057

More Books

Students also viewed these Finance questions

Question

What is the law of Prgnanz and how can it be illustrated?

Answered: 1 week ago

Question

What is e-commerce?

Answered: 1 week ago