The city of Bradenton is offering simple interest loans to start-up businesses at a rate of 3.5%.
Question:
The city of Bradenton is offering simple interest loans to start-up businesses at a rate of 3.5%. Mr. Cannata obtains one of these loans of $6000 for 3 years to help pay for start-up costs of his restaurant, Ortygia. Determine the amount of money Mr. Cannata must repay the city after 3 years.
If necessary round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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