SOLUTION: Billy Thornton borrowed $150,000 at a rate of 7.25% simple interest with interest paid at the end of each month. The bank uses a 360 day year. How much interest would Billy have to
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-> SOLUTION: Billy Thornton borrowed $150,000 at a rate of 7.25% simple interest with interest paid at the end of each month. The bank uses a 360 day year. How much interest would Billy have to
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Question 1148907: Billy Thornton borrowed $150,000 at a rate of 7.25% simple interest with interest paid at the end of each month. The bank uses a 360 day year. How much interest would Billy have to pay in a 30 day month?
A) $904.75
B) 907.75
C) 903.25
D) $909.25
E) 906.25 Answer by Boreal(15235) (Show Source):
