Question

.

Shuler’s Teas borrowed $9,805.
The simple interest loan was repaid in 7 months at 8.5%.
Find the amount of the repayment.

$10,291.16

$10,638.43

$10,284.50

$10,504.32

Answer 1

A=9,805×(1+0.085×7÷12)
A=10,291.16