You borrowed $1,000 on November 30th and another $1,500 on December 31st. Your arrange with the bank to pay the entire amount on February 15th of the following year. If the interest is 12% simple (per annum) how much must you pay on February 15th? Use February 15th as the focal date.  

Answer rating: 100% (QA)

To calculate the total amount you owe on February 15th you first need ... View the full answer