contestada

Diane Van Os decided to buy a used snowmobile since her credit union was offering such low interest rates. She borrowed $2,700 at 3.5% on December 26, 2013, and paid it off February 21, 2015. How much did she pay in interest? (Assume ordinary interest.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

Respuesta :

Answer:

Interest paid will be $110.25.

Step-by-step explanation:

p = 2700

r = 3.5%

time = 14 months

We will calculate simple interest for 14 months as Diane will pay for 14 months.

Interest = [tex]\frac{2700\times3.5\times14}{100\times12}[/tex]

= $110.25

Otras preguntas