Question: You borrow $ 5 5 0 for 3 0 days at a simple interest rate of 5 % . What is the interest on the

You borrow $550 for 30 days at a simple interest rate of 5%.
What is the interest on the loan? Be sure to use the Bankers' Rule when working with daily rates.
What is the loans future value?
You borrow $550 for 30 days at a simple interest rate

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