John borrowed $875 against his charge account on September 12 and repaid the loan on October 14

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John borrowed $875 against his charge account on September 12 and repaid the loan on October 14 (32 days later). Assume that the interest rate is 0.04273% per day.

(a) How much interest did John pay on the loan?

(b) What amount did he pay the bank when he repaid the loan?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:56 AM

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John borrowed $875 against his charge account on September 12 and repaid the loan on October 14

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A Survey of Mathematics with Applications

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