SOLUTION: Jeffery obtains a $1000 loan to purchase a laser printer. His interest rate is 7% ordinary interest for 108 days. What is the interest owed?
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Question 931720: Jeffery obtains a $1000 loan to purchase a laser printer. His interest rate is 7% ordinary interest for 108 days. What is the interest owed?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=1000*0.07*108/365
I=$20.71
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