Question: A lady uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The lady borrows $21000 for

A lady uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The lady borrows $21000 for 2 years with a simple interest rate of 1.4%

Determine the amount of money the lady must repay after 2 years.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!