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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 18
Solve the following word problems. Round answers to the nearest cent when necessary.
Mike Drago took out a loan for $3,500 at the Gold Coast Bank for 270 days. If the bank uses the ordinary interest method, what rate of interest was charged if the amount of interest was $269? Round your answer to the nearest tenth of a percent.
Mike Drago took out a loan for $3,500 at the Gold Coast Bank for 270 days. If the bank uses the ordinary interest method, what rate of interest was charged if the amount of interest was $269? Round your answer to the nearest tenth of a percent.
Explanation
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To find the rate of interest for a loan ...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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