Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section: Chapter Questions
Problem 430PT: Melinda deposited $5,985 in a bank account with an interest rate of 1.9%. How much interest was...
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Question
A loan in the amount of $454 is charged simple interest at an annual rate of 8.6%. How much money is owed 7 months after the loan was made?
Round your answer to the nearest cent.
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