Q1. On March 24, 2014, Brendan and Madison borrow $18,000 each at a simple interest rate...

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Q1. On March 24, 2014, Brendan and Madison borrow $18,000 each at a simple interest rate r = Brendan's bank calculates interest using exact interest, while Madison's bank uses the Banker's Rule (ordinary interest). Let X= amount Brendan pays back on September 24, 2014, and Y= amount Madison pays back on September 24, 2014. What is the value of X- Y? 12%. Q1. On March 24, 2014, Brendan and Madison borrow $18,000 each at a simple interest rate r = Brendan's bank calculates interest using exact interest, while Madison's bank uses the Banker's Rule (ordinary interest). Let X= amount Brendan pays back on September 24, 2014, and Y= amount Madison pays back on September 24, 2014. What is the value of X- Y? 12%.

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On March 24 2014 Brendan and Madison borrow 18000 each at a simple interest rate r12 Brendans bank c... View the full answer