M me_me_me Guest Feb 25, 2009 #1 Cool Pix inc. borrows $10,000 at 9% for 60 days, Find (a) the amount of interest due and (b) the total amount that must be paid after 60 days?
Cool Pix inc. borrows $10,000 at 9% for 60 days, Find (a) the amount of interest due and (b) the total amount that must be paid after 60 days?
J John F Guest Feb 25, 2009 #2 9/100 *10000 = 900 dollars of interests per year 900 * 60 / 365.25 = 147.84 dollars per 60 days total amount = 10000 + 147.84 = 10147.84 dollars
9/100 *10000 = 900 dollars of interests per year 900 * 60 / 365.25 = 147.84 dollars per 60 days total amount = 10000 + 147.84 = 10147.84 dollars
