business math

posted by .

Joan Roe Borrowed $85,000 at a rate of 113/4 percent. The date of the loan was July 8. Joan is to repay the loan on Sept 14. Assuming the loan is based on exact interest, the interest Joan will pay on Sept 14 is?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math(simple interest)

    A $9,000 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 7 1/4%. Use the loan date as …
  2. eco

    Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan …
  3. math

    Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest …
  4. math

    Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest …
  5. business math

    Janet Home went to Citizens Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was Sept 20. Janet hoped to repay the loan on Jan.20. Assuming the loan is based on ordinary interest, Janet will pay back interest …
  6. home economics

    Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest …
  7. VBA Programming

    I'm trying to create a macro that asks for a loan between 1 dollar and 5 million, and returns different interest rates based on the amount of the loan. For some reason when I type in different loan amounts it automatically makes my …
  8. interest math

    On April 12, Michelle borrowed $5,000 from her credit union at 9% for 80 days. The credit union uses the ordinary interest method. a. What is the amount of interest on the loan?
  9. business math

    . Ludwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method?
  10. math

    Janet Home went to Citizen Bank. she borrowed $7000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back how much …

More Similar Questions