In order to start a small business, a student takes out a simple interest loan for $5000 for 9 months at a rate of 6.25%. a. How much interest must the student pay? b. Find the future value of the loan.
In order to start a small business, a student takes out a simple interest loan for $5000 for 9 months at a rate of 6.25%. a. How much interest must the student pay? b. Find the future value of the loan.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
Related questions
Question
In order to start a small business, a student takes out a simple interest loan for
$5000
for
9
months at a rate of
6.25%.
a. How much interest must the student pay?
b. Find the future value of the loan.
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