Mathematics, 07.04.2021 01:00 GoAheadAndSmileToday
Leila takes out a loan for her college tuition from a bank that charges simple interest at an annual rate of 6.4%. Her loan is for $4600 for 10 months. Assume each month is 1/12 of a year. Answer each part below.
Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.
(a)Find the interest that will be owed after 10 months.
(b)Assuming Leila doesn't make any payments, find the amount owed after 10 months.
Answers: 2
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Leila takes out a loan for her college tuition from a bank that charges simple interest at an annual...
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