A print shop borrows $6700 from a credit union for 338 days the credit union charges simple interest at an annual rate of 10% fo
r this loan assum each day is 1/365 of a year
1 answer:
Answer:
The total he would have to pay back would be $7,320.44
Step-by-step explanation:
(I'm assuming you want the total amount he needs to pay back)
6700 x 0.10 = 670 per year
670 ÷ 365 = 1.835616438356164
1.835616438356164 × 338 = 620.44
620.44 + 6700 = 7,320.44
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