a) How much did the man pay for the use of the money? b) Determine the amount he repaid to the bank on the due date of the note.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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A man borrowed $3300 from a bank for 6 months. A friend was cosigner of the man's personal note. The bank collected 4–% simple interest on the date of maturity.
a) How much did the man pay for the use of the money?
b) Determine the amount he repaid to the bank on the due date of the note.
a) The man paid $ for the use of the money.
b) On the due date of the note, the man repaid $ to the bank.
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Enter your answer in each of the answer boxes.
Transcribed Image Text:A man borrowed $3300 from a bank for 6 months. A friend was cosigner of the man's personal note. The bank collected 4–% simple interest on the date of maturity. a) How much did the man pay for the use of the money? b) Determine the amount he repaid to the bank on the due date of the note. a) The man paid $ for the use of the money. b) On the due date of the note, the man repaid $ to the bank. Vi (00) More Enter your answer in each of the answer boxes.
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