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Home Q & A Board Science-Related Homework Help Mathematics
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florida1014 florida1014
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For a few years, Karen Williamson and her sister have operated an office services company that caters to local small businesses. Recently they got an opportunity to buy a used high-speed copy machine for $8,500 which they considered an excellent price. To make the purchase quickly, they agreed to pay $1,000 now and borrow $7,500 from the seller for 60 days at 9.5% exact simple interest. What is the total amount that they will need to repay the seller at the end of the 60 days? (Use a 365-day year.)
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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xuelixueli
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More solutions for this book are available here
$7,500 ´ 0.095 ´ 60/365 = $117.12; $7,500 + $117.12 = $7,617.12
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florida1014 Author
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2 weeks ago
this is exactly what I needed
alpheratz
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Yesterday
This helped my grade so much Perfect
kriggs62
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2 hours ago
Thanks for your help!!
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