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November 23, 2014

Homework Help: U.S. and Global Economics

Posted by Mary on Monday, November 11, 2013 at 12:15pm.

The owner of a flower shop needs a short-term loan to tide her business over until she completes the sale of some unused property. She asks the bank for a $25,000 six-month loan. The bank agrees to give her the loan, but attaches a hefty interest rate of 18 percent. Calculate the monthly payment, and explain how the florist can handle taking this loan.

do I multiply
.18*25,000

i'm not sure how to do this one either

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