Find the simple interest for each of the following. Round to the nearest cent. 1. $27,850...

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Find the simple interest for each of the following. Round to the nearest cent. 1. $27,850 at 7.75% for 100 days 2. $7800 at 9.25% for 4 months 3. A loan of $5800 at 9% made on May 22 and due July 5 4. A promissory note for $14,200 at 8.5% made on November 3 and due February 16. Solve the following application problems. 5. Jon Metcalf signed a 253-day simple interest note for $7700 with a bank that uses exact interest. If the rate is 10 3/4% find the maturity value. Find the simple interest for each of the following. Round to the nearest cent. 1. $27,850 at 7.75% for 100 days 2. $7800 at 9.25% for 4 months 3. A loan of $5800 at 9% made on May 22 and due July 5 4. A promissory note for $14,200 at 8.5% made on November 3 and due February 16. Solve the following application problems. 5. Jon Metcalf signed a 253-day simple interest note for $7700 with a bank that uses exact interest. If the rate is 10 3/4% find the maturity value.

Answer rating: 100% (QA)

To calculate the simple interest for each scenario we can use the formula Simple Interest Principal ... View the full answer