1 A man borrowed $3000 from a bank for 3 months. A friend was cosigner of...

 

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1 A man borrowed $3000 from a bank for 3 months. A friend was cosigner of the man's personal note. The bank collected 4-% simple interest on the date of maturity. a) How much did the man pay for the use of the money? b) Determine the amount he repaid to the bank on the due date of the note. a) The man paid $ for the use of the money. ***** 1 A man borrowed $3000 from a bank for 3 months. A friend was cosigner of the man's personal note. The bank collected 4-% simple interest on the date of maturity. a) How much did the man pay for the use of the money? b) Determine the amount he repaid to the bank on the due date of the note. a) The man paid $ for the use of the money. *****