Lolita borrowed $1450 from a relative. She promised to return it after 63 days at 7.2% interest. What is the exact simple interest that shall be paid? Round your answer to the nearest hundredths (2 decimal places).

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
icon
Related questions
Question

2

2. Lolita borrowed $1450 from a relative. She promised to return it after 63 days at 7.2% interest. What is
the exact simple interest that shall be paid? Round your answer to the nearest hundredths (2 decimal
places).
Transcribed Image Text:2. Lolita borrowed $1450 from a relative. She promised to return it after 63 days at 7.2% interest. What is the exact simple interest that shall be paid? Round your answer to the nearest hundredths (2 decimal places).
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer