Find the simple interest on an investment of $3500 for 2.5 years at
1 answer:
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Answer:
Therefore the correct option is b.) $1.15
Step-by-step explanation:
i) the book is 10 days late
ii) there is one day grace
iii) on the second day there is a fine of $0.25
iv) on the third day there is a fine of $0.20
v) for each of the remaining 7 days there is a fine of $0.10 for each day
therefore the total fine for the remaining seven days is = 7 $0.10 =
$0.70
vi) therefore the total fine for the book is = $0.25 + $0.20 + $0.70 = $1.15
Therefore the correct option is b.) $1.15