In order to start a small business, a student takes out a simple interest loan for $3000.00 for 6 months at a rate of 10.50%. a. How much interest must the student pay? b. Find the future value of the loan. a. The amount of interest is $ (Round to the nearest cent as needed.)
In order to start a small business, a student takes out a simple interest loan for $3000.00 for 6 months at a rate of 10.50%. a. How much interest must the student pay? b. Find the future value of the loan. a. The amount of interest is $ (Round to the nearest cent as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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12.Answer both questions
![In order to start a small business, a student takes out a simple interest loan for $3000.00 for 6 months at a rate of
10.50%.
a. How much interest must the student pay?
b. Find the future value of the loan.
a. The amount of interest is $
(Round to the nearest cent as needed.)
$
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>
10:47 PM
9/13/2022](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffebfc829-3adc-4601-a5b5-bd5b3e3c23b0%2Fe209d250-9e2d-4f48-9061-a0e5ee7339e7%2Fhwwufbl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In order to start a small business, a student takes out a simple interest loan for $3000.00 for 6 months at a rate of
10.50%.
a. How much interest must the student pay?
b. Find the future value of the loan.
a. The amount of interest is $
(Round to the nearest cent as needed.)
$
77°F Clear
>
10:47 PM
9/13/2022
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