You decide to take out a loan for 7000 at 6 yearly interest


You decide to take out a loan for $7,000, at 6% yearly interest on the date that Unit 4 starts. If you repay the loan on December 31st (at the end of the current year).

a) Exact time (days) of loan: __________

b) Using ordinary interest, calculate the interest and total owed. c) Using exact interest, calculate the interest and total owed.

Request for Solution File

Ask an Expert for Answer!!
Operation Management: You decide to take out a loan for 7000 at 6 yearly interest
Reference No:- TGS01622537

Expected delivery within 24 Hours