SOLUTION: James loaned Carol $17,250$17,250 at an interest rate of 11%11% for 189189 days. How much will Carol pay James at the end of 189189 days? Round your answer to the nearest cent. Not

Algebra ->  Finance -> SOLUTION: James loaned Carol $17,250$17,250 at an interest rate of 11%11% for 189189 days. How much will Carol pay James at the end of 189189 days? Round your answer to the nearest cent. Not      Log On


   

Question 1069830: James loaned Carol $17,250$17,250 at an interest rate of 11%11% for 189189 days. How much will Carol pay James at the end of 189189 days? Round your answer to the nearest cent. Note: 360360 days in a year and 3030 days in a month.

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
189/360=0.525
Didn't say if simple or compounded, and if latter how often.
For simple, $17250*0.525*.11=$996.19 interest
She will pay him $18246.19