Solve the problem. Assume that simple interest is being calculated in each case. Round your answer...

Question

Question

Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent.

10) Annie's cafe borrows $4700 at 9% for 80 days. Find the total amount that must be repaid after 80 days. (Use a 365 day year.)

math Statistics-And-Probability

Answer 1

Answer #1

P=4700

R=9%

T=80days = 80/365 year

total amount = P + P*R*T/100 = 4700+4700*(80/365)*(9/100)= $4792.71

Answer 2

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