Question: A print shop borrows $ 6 7 0 0 from a credit union for 1 2 4 days. The credit union charges simple interest at

A print shop borrows $6700 from a credit union for 124 days. The credit union charges simple interest at an annual rate of 10% for the loan. Assume each day is 1/365 of a year.
find the interest that will be owed after 124 days
assuming the print shop doesn't make an payments find the amount owed after 124 days

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!