Raymond B. answered 08/01/25
Math, microeconomics or criminal justice
7K for 3 months at 9% at simple interest (no compounding)
how much interest?? .09(7K)(3/12) = $157.50
what's the future value of the loan?? 7K + $15.75 = $7,157.50
Nicole M.
asked 05/09/19in order to start a small business a student takes out a simple interest loan for $7000.00 for 3 months at a rate of 9.00%
A. how much interest must the student pay?
B. find the future value of the loan.
FILL IN HERE these are the questions
A The amount of interest is $ _____
B the future value is $______
Raymond B. answered 08/01/25
Math, microeconomics or criminal justice
7K for 3 months at 9% at simple interest (no compounding)
how much interest?? .09(7K)(3/12) = $157.50
what's the future value of the loan?? 7K + $15.75 = $7,157.50
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