133k views
0 votes
On April​ 3, the Mears Flag Company borrowed ​$17,000 to pay for​ start-up costs for its new Showroom. The loan had a simple interest rate of 8.25​% and was for 270 days. The company was able to make partial payments of ​$7000 on May 28 and ​$3500 on October 12. How much will the company owe on the date of​ maturity? Assume 360 days in a year.

User Sukhhhh
by
5.8k points

1 Answer

5 votes

Answer:

$6992.74

Step-by-step explanation:

On April​ 3, the Mears Flag Company borrowed ​$17,000 to pay for​ start-up costs for-example-1
User Zeronone
by
5.1k points