SOLUTION: Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent unless otherwise indicated.
Annie’s cafe borrows $8300 at 6
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Question 1114934: Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent unless otherwise indicated.
Annie’s cafe borrows $8300 at 6% for 70 days. Find the total amount that must be repaid after 70 days (use a 365 day year)
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Interest = Principal * rate * time
= 8300 *0.06*(70/365)
=95.50
Amount =8300 +95.50
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