Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary interest method, how much interest (in $) will the bank collect? (Round your answer to the nearest cent.) $ 226.53

Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary interest method, how much interest (in $) will the bank collect? (Round your answer to the nearest cent.) $ 226.53

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section: Chapter Questions

Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...

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Question

Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the
2
bank uses the ordinary interest method, how much interest (in $) will the
bank collect? (Round your answer to the nearest cent.)
$ 226.53

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