Find the exact interest on a loan of $8,000 at 8% annually for 60 days. $ (Round to the nearest cent as needed.)
Find the exact interest on a loan of $8,000 at 8% annually for 60 days. $ (Round to the nearest cent as needed.)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 6FPE
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![Find the exact interest on a loan of $8,000 at 8% annually for 60 days.
(Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3aaa20b-aa03-431c-a209-6c3af75044ad%2F693be426-e485-4dd8-99ce-a781fd41a922%2Fuivirth_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the exact interest on a loan of $8,000 at 8% annually for 60 days.
(Round to the nearest cent as needed.)
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