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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 51
Solve the following word problems. Round answers to the nearest cent when necessary.
You are the owner of a Supercuts Hair Salon. What rate of interest were you charged on an ordinary interest loan for $135,000 in equipment if the interest was $4,400 and the time period was from January 16 to April 27? Round your answer to the nearest tenth of a percent.
You are the owner of a Supercuts Hair Salon. What rate of interest were you charged on an ordinary interest loan for $135,000 in equipment if the interest was $4,400 and the time period was from January 16 to April 27? Round your answer to the nearest tenth of a percent.
Explanation
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First find the number of days of the loa...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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