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Consider the total amount that must be repaid on the following note described. $8,513 borrowed at 15.5% simple interest
Posted: Tue Jul 12, 2022 12:41 pm
by answerhappygod
- Consider The Total Amount That Must Be Repaid On The Following Note Described 8 513 Borrowed At 15 5 Simple Interest 1 (14.59 KiB) Viewed 69 times
Consider the total amount that must be repaid on the following note described. $8,513 borrowed at 15.5% simple interest for 3 years, 125 days Give the future value of simple interest formula where A is the future value in dollars, P is the present value in dollars, r is the annual interest rate as a decimal, and it is the time in years. A= Determine the following values for the note. For t, first enter the total number of full years, then enter the remaining days as a fraction of a 360-day year. P t.m 360 What is the total amount to be repaid? (Round your answer to the nearest cent.) 5