Question
On April 5, 2015, Janeen Camoct took out an 11.25% loan for $35,000. The loan is due March 9, 2016. Use ordinary interest to calculate
On April 5, 2015, Janeen Camoct took out an 11.25% loan for $35,000. The loan is due March 9, 2016. Use ordinary interest to calculate the interest.
What total amount will Janeen pay on March 9, 2016? (Ignore leap year.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
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Financial Markets Instruments And Institutions
Authors: Anthony M. Santomero, David Babbel
2nd Edition
0072358688, 9780072358681
