Mary borrowed $800from a bank for 3years and was charged simple interest. The total interest that she paid on the loan was $216.00. As a percentage, what was the annual interest rate of her loan?

Question 2 :

California Microchips pays all says representatives 5% commission on the first $35,000 of their individual sales and 10% commission on their individual sale in excess of $35,000. Assume that John Foster sold merchandise valued at $35,000 during the month of April.

Calculate the following amount.

(a) Commission on sales in the sales base:_______________

(b) Commission on additional sales:______________

(c) Gross pass.__________

Answer rating: 100% (QA)

Question 1 Mary borrowed 800 from a bank for 3 years and paid a total of 216 in interest To fin... View the full answer