In order to start a small​ business, a student takes out a simple interest loan for ​$7000.00 for 9 months at a rate of 11.00​%.   a. How much interest must the student​ pay? b. Find the future value of the loan.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
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In order to start a small​ business, a student takes out a simple interest loan for
​$7000.00
for
9
months at a rate of
11.00​%.
 
a. How much interest must the student​ pay?
b. Find the future value of the loan.
Expert Solution
Step 1 Introduction
We have to find interest must the student​ pay and Find the future value of the loan.
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