Question
On April 5, 2015, Janeen Camoct took out an 8% loan for $23,000. The loan is due March 9, 2016. Janeen's terms are ordinary interest.
On April 5, 2015, Janeen Camoct took out an 8% loan for $23,000. The loan is due March 9, 2016. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrinas terms, however, are exact interest. (Use Days in a year table.) a. What is Sabrinas difference in interest? (Do not round intermediate calculations. Round your answer to the nearest cent.) Difference $ b. What will she pay on March 9, 2016? (Ignore leap year.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount $ rev: 03_08_2017_QC_C
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