SOLUTION: In order to start a small business,a student takes out a simple interest loan for 8000.00 for 6 months at a rate of 6.75%
A. How much interest must the student pay?
B. Find the
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Question 994080: In order to start a small business,a student takes out a simple interest loan for 8000.00 for 6 months at a rate of 6.75%
A. How much interest must the student pay?
B. Find the future value of the loan.
I need help badly with this ???
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=8000*0.0675*0.5
0.5 is for half the year
I=270
------
FV=8000+270=8270
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