Question: Peter borrowed $ 4 , 0 0 0 on January 2 nd . The simple interest rate charged on his loan was initially 6 .
Peter borrowed $ on January nd The simple interest rate charged on his loan was initially and increased to on January th His bank charges interest at the end of each month. Calculate the missing values from the table below.
Time Period
# Days
Interest Rate
Interest Amount
Jan Jan
A
Jan Jan
B
Total Interest Due:
C
Place the value for A in the first box, B in the second and C in the third. Round your answers to decimal places.
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