On February 25, 2022 a businessman borrowed 1,500,000 from a bank for the expansion of his restaurant. It was agreed that he will pay the amount with a 6 1⁄2 % rate of interest on December 10, 2022. What is the ordinary simple interest on actual time to be paid?
On February 25, 2022 a businessman borrowed 1,500,000 from a bank for the expansion of his restaurant. It was agreed that he will pay the amount with a 6 1⁄2 % rate of interest on December 10, 2022. What is the ordinary simple interest on actual time to be paid?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
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1. On February 25, 2022 a businessman borrowed 1,500,000 from a bank for the expansion of his restaurant. It was agreed that he will pay the amount with a 6 1⁄2 % rate of interest on December 10, 2022. What is the ordinary simple interest on actual time to be paid?
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