SOLUTION: Bella Sandino paid 9% interest on an $11,500 loan balance. Joseph Marks paid $5,610 interest on a $85,000 loan. Based on 1 year:
a. What was the amount of interest paid by Bell
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Question 1110889: Bella Sandino paid 9% interest on an $11,500 loan balance. Joseph Marks paid $5,610 interest on a $85,000 loan. Based on 1 year:
a. What was the amount of interest paid by Bella?
b. What was the interest rate paid by Joseph? (Round your answer to the nearest tenth percent.)
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
(a)
$1,035 interest
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(b)
6.6% interest
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