Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary interest method, how much interest (in $) will the bank collect? (Round your answer to the nearest cent.) $ 226.53

Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary interest method, how much interest (in $) will the bank collect? (Round your answer to the nearest cent.) $ 226.53

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter1: Equations, Inequalities, And Mathematical Modeling

Section1.3: Modeling With Linear Equations

Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...

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Question

Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the
2
bank uses the ordinary interest method, how much interest (in $) will the
bank collect? (Round your answer to the nearest cent.)
$ 226.53

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