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(a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to repay the debt in 2
Posted: Mon Jul 11, 2022 12:48 pm
by answerhappygod
- A Heather Borrowed 5000 From Her Grandmother As A Down Payment On Her First Car She Promised To Repay The Debt In 2 1 (23.9 KiB) Viewed 45 times
(a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to repay the debt in 2 years at 7% per annum, simple interest. How much should Heather repay her grandmother? (2 marks) (b) How much must Jason deposit in a special account paying interest at the rate of 9.5% to receive $75.21 in interest after 6 months? (2 marks) (c) An investment of $4500 gained $337.50 in intesest in 9 months. What rate of yearly intesest did the investment pay? (2 marks)