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Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050 Exercise 7
To help you review, the numbers in brackets show the section in which the topic was discussed. Find the simple interest for of the following. Round to the nearest cent.
Glenda Pierce plans to borrow $14,000 for a new hot tub and deck for her home. She has decided on a term of 200 days at 10.5% simple interest. However, she has a choice of two lenders. One calculates interest using a 360-day year and the other uses a 365-day year. Find the amount of interest Pierce will save by using the lender with the 365-day year. _____________ [9.1]
Glenda Pierce plans to borrow $14,000 for a new hot tub and deck for her home. She has decided on a term of 200 days at 10.5% simple interest. However, she has a choice of two lenders. One calculates interest using a 360-day year and the other uses a 365-day year. Find the amount of interest Pierce will save by using the lender with the 365-day year. _____________ [9.1]
Explanation
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The following table is given, 
Use the a...
Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
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