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The main refrigerator at Parkside Grille Restaurant had a serious malfunction. Laura Casper, the ...
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The main refrigerator at Parkside Grille Restaurant had a serious malfunction. Laura Casper, the ...
The main refrigerator at Parkside Grille Restaurant had a serious malfunction. Laura Casper, the owner/chef, found a very nice used replacement refrigerator, but needed $4,500 additional cash immediately. She took out a 75-day loan at 7.5% exact simple interest. Compute the total, interest and principal, that Laura must pay for this loan. (Use a 365-day year.)
Textbook
Contemporary Business Mathematics for Colleges
Edition:
16
th
Authors:
Deitz, Southam
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$4,500
´
0.075
´
75/365 = $69.35; $4,500 + $69.35 = $4,569.35
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