Work each problem. See Example 5.
Simple Interest Levada Qualls borrows $30,900 from her bank to open a florist shop. She agrees to repay the money in 18 months with simple annual interest of 5.5%.
(a) How much must she pay the bank in 18 months?
(b) How much of the amount in part (a) is interest?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.