SOLUTION: On July 7, a married couple borrowed $2,000 from a finance company so they could take a vacation trip. If the loan was for two months, and the company charged 10% exact interest, f

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Question 57137: On July 7, a married couple borrowed $2,000 from a finance company so they could take a vacation trip. If the loan was for two months, and the company charged 10% exact interest, find the interest due on this loan.
Answer by CrazyMan Jr.(21) About Me  (Show Source):
You can put this solution on YOUR website!
Assuming that the interest is 10% each month,
2000*(2)0.10% = 400
Therefore the loan interest would be $400. $2400 altogether.
J-Man