SOLUTION: Lynne needs to borrow $6250 for cosmetic surgery. She obtains a loan from her grandmother for 30 months at a simple interest rate of 8.8%. What is the loans future value?

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Question 1185277: Lynne needs to borrow $6250 for cosmetic surgery. She obtains a loan from her grandmother for 30 months at a simple interest rate of 8.8%. What is the loans future value?
Answer by ikleyn(52772)   (Show Source): You can put this solution on YOUR website!
.

It is   = 7625  dollars.    ANSWER

Solved.

I used the formula for the simple interest rate.

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To see many other similar  (and different)  solved problems on simple interest accounts,  look into the lesson
    - Simple interest percentage problems
in this site.


Learn the subject from there.



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