A company borrows $80,000 at a simple interest rate of 6.7% per annum for 90 days....

 

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A company borrows $80,000 at a simple interest rate of 6.7% per annum for 90 days. What is the total amount they will need to repay after 90 days (rounded to the nearest dollar)? A company borrows $80,000 at a simple interest rate of 6.7% per annum for 90 days. What is the total amount they will need to repay after 90 days (rounded to the nearest dollar)?

Answer rating: 100% (QA)

For a simple interest loan the interest is calculated by multiplying the principal amount interest ... View the full answer