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3 years ago

Jon Metcalf borrowed $7,700 for a 253-day loan at a 10.75% interest rate

Mathematics

1 answer:

natali 33 [55]3 years ago

5 0

Answer:

Exact: $574 (3 sf)

Ordinary: $582 (3 sf)

Step-by-step explanation:

Exact:

253/365 × 7700 × 10.75/100

= $573.7554795

= $574 (3 sf)

Ordinary:

253/360 × 7700 × 10.75/100

= $581.7243056

= $582 (3 sf)

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