On April 5 2010, Sabrina Bowers took out the 8.5% loan for $20,00. The loan is due March 9 2011. Using the exact interest. What will she pay on March 9,2011?
On April 5 2010, Sabrina Bowers took out the 8.5% loan for $20,00. The loan is due March 9 2011. Using the exact interest. What will she pay on March 9,2011?
Solution: Loan amount Rate No. of days…