Karen's Katering borrows $5,500, at 8.5% interest, for 280 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.)
Karen's Katering borrows $5,500, at 8.5% interest, for 280 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Karen's Katering borrows $5,500, at 8.5% interest, for 280 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.)
a. $358.63
b. $363.61
c. $376.95
d. $467.50
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