Short Answer
Ben was charged 12.5% interest and paid $375 interest on a simple interest loan for 45 days from his local bank. How much did he borrow? Use exact interest. (Round to the nearest cent)
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q107: Yo Yogurt received a promissory note of
Q108: Shaylash takes out a loan for $10,500,
Q109: Find the amount of the principal on
Q110: Use the exact method (365 days)
Q111: Suppose you take out a loan for
Q113: Patty wants to pay off a medical
Q114: Kevin Mills borrowed money to purchase a
Q115: Maturity value is the total payback of
Q116: When calculating simple interest and the time
Q117: Marcy Link took out a loan for