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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 153
Solve the following word problems. Round to the nearest cent when necessary.
On April 12, Michelle Lizaro borrowed $5,000 from her credit union at 9% for 80 days. The credit union uses the ordinary interest method.
a. What is the amount of interest on the loan
b. What is the maturity value of the loan
c. What is the maturity date of the loan
On April 12, Michelle Lizaro borrowed $5,000 from her credit union at 9% for 80 days. The credit union uses the ordinary interest method.
a. What is the amount of interest on the loan
b. What is the maturity value of the loan
c. What is the maturity date of the loan
Explanation
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a. Given, Michelle Lizzaro borrowed $5,0...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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