am. 112. on july 10, 2005, wendy chapman borrowed dollar 12,000 from her aunt nelda.ifwendy agreed to pay a 9% annual rate of interest, calculate the dollar of interestshe must pay if the loan is for 1 year.Answer in 2 decimal places, without currency.

The problem is asking us to calculate the amount of interest Wendy must pay for a loan of $12,000 at…

Answered: on july 10, 2005, wendy chapman…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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on july 10, 2005, wendy chapman borrowed dollar 12,000 from her aunt nelda.if wendy agreed to pay a 9% annual rate of interest, calculate the dollar of interest she must pay if the loan is for 1 year.Answer in 2 decimal places, without currency.